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14.07.2016 16:01

Russia's regulator acknowledges quality of MOEX USD/RUB FX Fixing

The Central Bank of Russia (CBR) has officially recognised Moscow Exchange's USD/RUB FX Fixing and Moscow Exchange's operational performance as fixing administrator as being of satisfactory quality. The CBR also the fixing"s compliance with the Bank"s requirements, which are based on the International Organization of Securities Commissions (IOSCO) principles for financial benchmarks.

In March 2016, Moscow Exchange indices and FX fixings were recognized as IOSCO-compliant.

On a daily basis Moscow Exchange calculates a family of FX fixings of the Russian Ruble against the U.S. dollar, Euro and Yuan that are used to settle RUB denominated FX derivatives. It also provides fixings for USD/RUB FX swaps with maturities from one week to one year. The MOEX USD/RUB benchmark has traditionally been used to settle U.S. dollar FX futures traded at MOEX.

CME Group will begin using the MOEX benchmark for its rouble-denominated currency futures on 18 July 2016.

MOEX operates the world's largest rouble FX trading marketplace. In June 2016 average daily trading volumes were $20.4 bn.

 

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