Postponing of the penalty fee for failed settlement of net obligations in RUB

From 15 January 2018, Moscow Exchange will impose a penalty on participants for late settlement of net obligations in RUB (cut-off time breach). This move aims to standardize the clearing processes on Moscow Exchange’s markets. It had been previously scheduled for 1 January 2018.  

Members can settle their net obligations on RUB trades until 20:00 MSK on the trade settlement date.  Otherwise, penalty fees will be applied on the outstanding amount, at the following rates:

• Derivatives Market – the Bank of Russia Key Rate
• Equity & Bond and FX Markets – the Bank of Russia Key Rate x 2

For more detailed information on changes in the clearing and settlement processes, please visit the CCP NCC website section on Clearing Innovations.