MOEX releases a new Service of Algirithmic Trading of the FX Market

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Moscow Exchange (MOEX), a leader in driving modernization of Russia's financial markets infrastructure and promoting Moscow as an international financial centre, updated on its official website that it has released a new Algorithmic trading service of the FX market. 

With this service, Trading members and their clients can use TWAP (Time-weighted Average Price) algorithm, that allows to buy or sell evenly the specified volume during the specified time interval.

The Algorithmic Service is implemented to form a packet of linked orders that are entered into the Trading System at the due time. There are no collateral reservation for algorithmic packet. 

According to MOEX, required amount of collateral is calculated as usual, when each linked order enters the Trading and Clearing system.

Users can enter algorithmic orders during the Main trading session (from 10:00 to 23:50) on CETS (System deals) and SDBP (Large Volume Trades) boards.

Users set algorithm work time during the trading session.

Although slightly late to the party, MOEX says it will provide a comprehensive offering that allows users to employ different ways to set time-weighted orders: specify the number of linked orders or specify the time interval between orders.

Depending on the parameters selected by the user, the algorithm calculates either time intervals based on the number of linked orders, or the volume of each order based on fixed time intervals.