T+2 settlement cycle to be introduced for U.S. dollar-denominated Eurobonds

Moscow Exchange will allow deferred settlement and the absence of full prefunding requirement for U.S. dollar-denominated Eurobonds from 25 January. Sovereign Eurobonds, corporate Eurobonds and Russian bonds denominated in USD will be traded with T+2 settlement. This settlement cycle will replace T0 settlement in USD for those instruments.

"Moving Eurobonds to the T+ settlement period will boost liquidity for them and allow participants to trade Eurobonds against other assets as collateral", said Equity & Bond Market Managing Director Anna Kuznetsova.

Eurobonds will be available for the T+2 central order book, CCP-cleared negotiated trades without full prefunding as well as negotiated trades. 

In the T+2 central order book, Eurobonds will be traded also during the opening and closing auctions.  

Trade terms for Eurobonds denominated in EUR and RUB will remain unchanged.

For further information, please contact the Public Relations Department at (495) 363-3232.