31.01.2018 11:37

Moscow Exchange launches trading in Turkish Lira

On 29 January 2018, Moscow Exchange began trading the Turkish Lira/Russian Rouble (TRY/RUB) currency pair. On its first day, the instrument saw turnover of RUB 1.5 million (TRY 100 thousand).

Initially, the Turkish Lira is available for buy/sell transactions with settlement on the trade date (TRYRUB_TOD) and a 100% margin requirement. The currency is traded from 10:00 until 11:00 MSK. Instruments with the T+1 settlement period (TRYRUB_TOM) and overnight swaps (TRY_TODTOM) without full pre-depositing required will be offered at a later date.  

According to Igor Marich, Managing Director of Money and Derivatives Markets at Moscow Exchange, these new instruments in the MOEX FX offering will benefit clients of banks and brokers that conduct cross-border operations between Russia and Turkey. The volume of foreign trade between Russia and Turkey rose by nearly 40% in 2017 to over USD 20 billion. Offering the Turkish Lira quoted directly against the Russian Rouble at the Exchange will help improve the status of the national currencies in settlements between the countries.  

For further details, please visit the Moscow Exchange website.

About Moscow Exchange

Moscow Exchange (MOEX) is the largest exchange group across Russia and Eastern Europe by trading volumes and number of clients. It was formed in 2011 through the merger of Russia’s two leading exchanges, MICEX and RTS. Today, Moscow Exchange is the main liquidity and price discovery centre for Russian instruments. Moscow Exchange hosts trading in equities, bonds, derivatives, currencies, money market instruments and commodities. The Group also includes Russia's central securities depository "the National Settlement Depository" and the National Clearing Centre, which performs the function of central counterparty.

MOEX FX Market offers trading in US Dollar, Euro, Chinese Yuan, Hong Kong Dollar, British Pound, Swiss Franc, Belarus Rouble and Kazakhstan Tenge. Its market data is used to calculate MOEX USD/RUB FX FIXING that meets Russian and international (IOSCO) regulatory standards. MOEX FX ADTV is around USD 24 bn.

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