Moscow Exchange to double FX Market tick size

At a meeting on 27 November Moscow Exchange's FX Market Committee recommended increasing the price tick for USD/RUB and EUR/RUB spot instruments to RUB 0.001 from the current RUB 0.0005.

The move was initiated by FX Market brokers as a result of rising RUB volatility.

"The tick size is an important component of the market microstructure which impacts trading strategies and trading facilities at the exchange. The larger tick size for the major currency pairs will deepen liquidity at the bid/offer price and will be beneficial to major brokers. It will also harmonise the tick sizes of Moscow Exchange's FX and Derivatives Markets; the tick for FX contracts on the Derivatives Market is also RUB 0.001. We expect the change to be effective from February next year," said Moscow Exchange Money Market Managing Director Igor Marich.

Moscow Exchange's FX Market offers trading in spot and swap instruments in USD/RUB, EUR/RUB, CNY/RUB, HKD/RUB, GBP/RUB, EUR/USD, BYR/RUB, UAH/RUB, and KZT/RUB. Its trading hours are 10:00 a.m. to 11:50 p.m. Moscow time.

For further information, please contact the Public Relations Department at (495) 363-3232.