Moscow Exchange Equity & Bond Market
Moscow Exchange's Equity & Bond
Market is the CIS and CEE's largest equity and bond market.
Moscow Exchange is among the top 30 leading stock exchanges
worldwide.
Moscow Exchange's Main Market Sector includes two main markets, each of which employs and offers specific procedures and instrument types.
Moscow Exchange's Main Market Sector includes two main markets, each of which employs and offers specific procedures and instrument types.
Equity Capital Market (T+ Market). Offers trading in
shares, depositary receipts, fund shares, ISUs, and
ETFs, as well as OFZs and regional and corporate bonds.
The T+ Market is based on trading with a central
counterparty, partial collateral and deferred execution.
Trades executed in the Main Trading Mode T+ (T+2 order
book) are settled two days after the trade is conducted
(T+2 settlement cycle).
Debt Capital Market (T0 Market). Offers trading in
OFZs, corporate bonds (including commercial papers),
regional bonds, and municipal bonds. The T0 Market is
based on trading with a central counterparty and full
(100%) prefunding. Trades executed in the Main Trading
Mode are settled on the same day as the trade is
conducted (T+0).
Equity & Bond Market settlement and clearing
infrastructure
Market T+
Market T0
Trading organiser
MOEX
Clearing
National Clearing Centre
(NCC)
Central Counterparty
NCC (for T0 Market in Main
Trading
Mode and NDM)
Mode and NDM)
Asset depositing in RUB and
FX
FX
On NCC clearing accounts
On NSD trading accounts
and NCC clearing accounts
and NCC clearing accounts
Securities depositing
On NSD subaccount No 36
On NSD subaccounts No 36 and 31
Settlements:
RUB
FX
Securities
NSD
OTC trade reporting system
OTC monitor (Moscow
Exchange's EDI; Plaza2 Gateway; client's Personal Cabinet
web interface)