04.12.2018 09:55

Moscow Exchange adds Japanese Yen to its FX offering

On 3 December 2018, trading on Moscow Exchange commenced in Japanese Yen/Russian Rouble (JPY/RUB), US Dollar/Swiss Franc (USD/CHF), US Dollar/Chinese Yuan (USD/CNY), US Dollar/Kazakh Tenge (USD/KZT) and US Dollar/Turkish Lira (USD/TRY) currency pairs.

These additions will allow market participants to further diversify their FX transactions and will boost the liquidity of the MOEX FX market.

  • JPY/RUB will be traded from 10:00-17:45 MSK with same day settlement.
  • USD/CHF, USD/CNY, USD/KZT and USD/TRY will be traded
    • 10:00-10:45 for same day settlement,
    • 10:00-11:00 for overnight swaps,
    • 10:00-23:50 MSK for settlement on T+1 and T+2 and tom/spt swaps.

In the first day of trading, ten banks traded the Japanese Yen. Banks from the Urals, Siberia and the Far East (Iturup Bank, bank Levoberezhny, Kamchatsky Commercial Agroprombank, Bank Koltso Urala, Primorye Bank, Primsotsbank and SBC) were the most active, as they provide services to clients involved in cross-border trade with Japan.

Currently, MOEX’s FX Market offers trading in the US Dollar, Euro, Chinese Yuan, Hong Kong Dollar, British Pound, Swiss Franc, Turkish Lira, Belarus Rouble and Kazakhstan Tenge with the Russian Rouble as the base currency. The FX trading volume for the first 11 months of 2018 ended 30 November was RUB 322 trillion, of which RUB 80 trillion were spot instruments (up 10% YoY).

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