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23.09.2021 14:59

New options for OTC trading on Moscow Exchange FX and Precious Metals Markets

Moscow Exchange has expanded opportunities for banks, brokers and non-financial companies with direct market access to use OTC services on MOEX’s FX and Precious Metals Markets.

The Linking with Foreign Liquidity Providers service was launched using NTPro platform technology. Using this service, market participants can make spot trades in G10 currencies at prices quoted by major global banks with settlement through MOEX’s central counterparty (CCP), the National Clearing Centre (NCC). The transition to NTPro technology will reduce latency and rejection rates, thereby increasing the speed and quality of OTC trades execution.

The list of instruments available as part of FX market OTC services has been expanded. From September, the Exchange offers EUR/USD and GBP/USD swap transactions through the Request for Stream (RFS) functionality, delivering quotations from leading global banks providing liquidity, with settlement through the CCP. In addition, market participants are now able to clear OTC swap transactions with the CCP executed via OTC e-platforms. Previously, clearing of OTC trades with the CCP was available only for spot instruments. The new functionality will improve liquidity management and minimise credit and settlement risks by leveraging reliable exchange and settlement infrastructure.

MOEX's Precious Metals market participants have gained access to global gold market liquidity. Spot transactions at London gold market prices (Loco London, an XAU/USD instrument with T+2 settlement) and gold/US dollar swaps are now available. Trades are executed in an automated mode via the central counterparty, subject to the single limit and netting of liabilities. The new instruments will contribute to the diversification of sales markets and increase the efficiency of gold transactions by Russian precious metals market participants and their clients.

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