Moscow Exchange Expands OTC Trading Services

Moscow Exchange, the largest exchange group in Russia, announced that it 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.

According to the announcement, the exchange’s Linking with Foreign Liquidity Providers service will enable market participants to 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 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 and gold/US dollar swaps are now available.