Moscow Exchange ratings rise in Euromoney FX survey

Moscow Exchange, Russia’s leading trading platform in equities, bonds, derivatives, FX and money markets, has secured strong positions in Euromoney magazine’s authoritative annual survey of foreign exchange market participants. MOEX achieved a second place ranking in customer satisfaction among multi-dealer platforms, fourth place in the overall Best ECN ranking – up three spots from last year – and sixth place by overall volume among the multi-dealer platforms.

The Euromoney FX survey 2021 is the 43rd annual survey of liquidity consumption in the global FX markets. In the 2021 survey, Euromoney received 2,788 valid responses from consumers of FX liquidity, representing total FX consumption of $104.9 trillion last year.

In an article reporting on this year’s survey results, Euromoney wrote, "One of the most interesting newcomers in this year’s survey is Moscow Exchange (MOEX), which was ranked sixth overall in the multi-dealer platform category with a market share of 4.9%, despite having not featured in last year’s survey…Some FX venues have responded to demands for better execution by reducing minimum tick sizes. In contrast, MOEX opted to offer separate order books and has also expanded and enhanced its over-the-counter clearing service."

In March 2021, MOEX also added a morning trading session to its FX Market, improving access for market participants in the Eastern parts of Russia as well as Asian countries. The market now opens at 7 a.m. Moscow time, making the trading day nearly 17 hours.

Igor Marich, MOEX Managing Director for Sales and Business Development, said:

"MOEX’s FX Market continues to deliver international access to market leading RUB liquidity combined with safe and efficient post-trade net settlement solutions from our central counterparty (CCP) and clearing house. MOEX’s recent acquisition of BierbaumPro, which owns the NTPro FX trading platform, demonstrates our commitment to providing both OTC and on-exchange trading and post trade solutions to facilitate RUB FX Trading for diverse range of international and local market participants."

Currency trading has been available on MOEX since 1992. Currently, the Exchange offers trading in 17 currency pairs, with their ADTV at approximately USD 20 bln. In 2021 MOEX’s share of the total FX trading volume on the Russian interbank currency market is 55% for USD/RUB and 70% for EUR/RUB.