Otkritie Capital becomes individual clearing member on Moscow Exchange FX Market
Otkritie Capital International Ltd (OCIL) has become the first international broker admitted to individual clearing membership on Moscow Exchange. The company will clear and settle trades executed by authorised trading members on behalf of OCIL and its clients.
Grigoriy Kozin, Head of Prime Services at Otkritie Capital, said:
"We are delighted to get clearing membership with Moscow Exchange and especially proud to be a pioneer in this field and thereby maintain our image as an innovative company. This represents a step forward in our current work at Otkritie Capital International Limited aimed at providing our clients with the most effective access to financial markets and mitigating counterparty risk due to direct operations with market infrastructure institutions and the most reliable counterparties".
Igor Marich, Managing Director of the FX and Money Markets, Member of Executive Board at Moscow Exchange, said:
"We welcome Otkritie Capital International Ltd as an individual clearing member of our FX Market. With its new status, the company will get further opportunities to develop a pipeline of clients, increase their turnover on Moscow Exchange, mitigate risks and reduce operational costs."
Moscow Exchange initiated separation of clearing member and trading member statuses on the FX Market in December 2014 to allow non-resident companies apply for general (category "O") or individual (category "B") clearing membership. Both categories allow international clearing members (ICM) to trade on the FX Market, and clear and settle trades on their own. ICMs may also clear trades executed on behalf of trading members and their clients.
For further information, please contact the Public Relations Department at (495) 363-3232.