Postponing of the penalty fee for undue settlement of net obligations

From 22 January 2018, Moscow Exchange will impose a penalty on participants for late settlement of net obligations in RUB and FX (cut-off time breach). This move aims to standardize the clearing processes on Moscow Exchange’s markets. It had been previously scheduled for 15 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.