Moscow Exchange provides access to global FX liquidity
On 14 December 2018 Moscow Exchange began offering OTC transactions in the Euro/US Dollar currency pair based on its infrastructure and FX Market interfaces. Integral, a technology provider in the foreign exchange market, delivers the technological solution for access to global liquidity providers. On 19 December 2018 the British Pound/US Dollar currency pair was added to the offering.
National Clearing Center (NCC), a part of the Moscow Exchange Group, clears and settles transactions as the central counterparty, giving participants the benefits of the unified collateral pool including cross margining across all MOEX markets and common collateral requirements.
Igor Marich, Managing Director of the Money and Derivatives Markets at Moscow Exchange, said:
"Our efforts are aimed at providing clients with access to global FX liquidity while allowing them to keep our regular infrastructure interfaces, the benefits and comfort of the central counterparty and our low costs. The new service will improve the quality of the market and facilitate opportunities for our participants. In the future we plan to add additional FX instruments to this program".
The first trades with the new service were executed by Ak Bars Bank, Aton, BaikalInvestBank, Gazpromneft and Sovcombank.