Moscow Exchange Introduces USD/RUB and EUR/RUB Fixing Instruments

Moscow Exchange (MOEX), Russia’s largest institutional trading venue, has just announced new opportunities and services to FX market participants. Effective yesterday, the venue has launched new instruments - USD/RUB and EUR/RUB fixing prices, with clearing and settlement via NCC Clearing Bank.

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The new currency fixings were introduced under the USDRUB_FIX0 and EURRUB_FIX0 symbols, representing the most liquid segments of the Russian FX market, and as such offering a useful reference for all market participants.

The MOEX currency fixings family offers benchmarks for a number of currency pairs mainly thanks to its high Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, transparency and historic foundation.

The new instruments will create further business opportunities for market participants and their clients in OTC trading of rouble non-deliverable forwards (NDF) and risk hedging. This will facilitate market liquidity, and reduce costs and risks for Russian and international participants, with the net return calculated at maturity as the difference between the forward rate and the MOEX fixing rate.

In recent years, MOEX’s FX market has developed from a limited segment within the Russian interbank market to a global Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term for rouble operations.

Igor Marich, Managing Director for the FX and Money Markets at Moscow Exchange, commented: "The launch of instruments for FX fixing trading offers new opportunities to MOEX FX Market participants and allows them to reduce risks associated with FX and derivatives trading. The new service is in demand from international clients; it also helps to highlight of the fixing and the MOEX FX Market."