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FX Market

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            About the FX Market

            Moscow Exchange's FX Market is Russia's oldest regulated FX trading venue, operating since 1992. The market is the primary liquidity center for the ruble and a core component of the national financial system..

            Moscow Exchange calculates daily the CNY/RUB fixing exchange rate , necessary for the calculation and implementation of foreign exchange derivatives. Currently, currencies such as Chinese yuan (CNY), Belarusian ruble (BYN), Kazakhstani tenge (KZT), Turkish lira (TRY), Armenian dram (AMD), Uzbek sum (UZS), Kyrgyz som (KGS), Tajik somoni (TJS) are traded on the Moscow Stock Exchange.

            Moscow Exchange acts as the trade organiser and technical centre. The market operates as an order-driven trading platform in accordance with the procedure stipulated in the Rules of Organised Trading for the FX and Precious Metals Markets. The trading system ensures a level playing field for all trading members and registered clients in entering and executing FX buy/sell orders and accessing market data. Trades are executed automatically as orders are matched in the system. A special trading mode enables off book (addressed) trades. National Clearing Centre (NCC) clears trades in accordance with the Clearing Rules for the FX and Precious Metals Markets.

            NCC acts as the central counterparty to every trade and guarantees performance of every transaction to non-defaulting brokers. Brokers are not required to provide full prefunding, and enjoy a highly efficient and reliable risk management system.