Moscow Exchange Adds GV Gold to its FX and Precious Metals Markets

Moscow Exchange (MOEX) announced today it has welcomed GV Gold as a member of its FX and Precious Metals Markets.

With direct access to the Precious Metals Market, GV Gold will explore new opportunities in selling gold and converting foreign currency at market rates, benefitting from the on-exchange market’s strong 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, transparent pricing and reliability of the central counterparty, according to MOEX.

"Moscow Exchange’s Precious Metals Market provides unrivalled opportunities to approach a wide range of counterparties. Banks are traditionally key partners and trading participants on the Exchange. Retail investors, whose number on MOEX is now more than 5.3 million, have a growing interest in deliverable gold, which has always been considered a defensive asset. MOEX’s infrastructure is now more widely used in precious metals transactions with non-residents, notably following the introduction of the trading link with London’s largest Liquidity Providers Liquidity Providers A liquidity provider (LP) constitutes an individual and/or an institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profit on A liquidity provider (LP) constitutes an individual and/or an institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profit on Read this Term and the acquisition of clearing member status with the Shanghai Gold Exchange by MOEX. We are pleased to see that more and more gold producers appreciate the benefits of on-exchange trading and are joining MOEX," Igor Marich, Moscow Exchange executive board member and managing director for sales and business development, said.

"We see our membership with Moscow Exchange as a way to receive data on gold quotations and use the FX Market service at the minimum fee to efficiently execute operations," Sergey Gostev, deputy CEO for economics and finance at GV Gold, added.

Moscow Exchange launched the Precious Metals Market in 2013. Fifty-nine professional market participants including three gold miners now have access to the market. Market participants execute spot trades and swaps in gold and silver with the central counterparty (CCP NCC).

GV Gold

GV Gold (Vysochaishy, PJSC) is a Russian gold mining company. It develops open pit deposits and washes gold at the country’s largest alluvial deposit. In 2019, the firm’s assets produced 260 koz of gold.

GV Gold’s key operating assets are located in the Irkutsk Region and the Republic of Sakha (Yakutia). The company operates four mines with a total capacity of 8 Mtpa of ore and holds 20 mining and exploration licenses. GV Gold boasts an extensive resource base, with JORC reserves and resources estimated at 4.4 Moz and 7.0 Moz, respectively.

The company said it adheres to high corporate governance standards and has a transparent ownership structure, with BlackRock among its shareholders (17.99%).