16.11.2017 14:02

Daily turnover at MOEX USD/RUB FX fixing exceeded USD 500 million

On 14 November 2017, MOEX FX fixing trading turnover reached USD 510 million or RUB 30.2 billion.

Moscow Exchange has offered the USD/RUB and EUR/RUB FX fixing electronic matching service from 4 September 2017. The service is intended to help Russian and international banks with a hedge against the currency risk of OTC trading in rouble non-deliverable forwards (NDF) and create new opportunities to reduce risks associated with FX and derivatives trading.        

Currently 17 Russian banks including subsidiaries of large global financial groups are using the service.

The Moscow Exchange FX fixing has been used as the principal settlement (reference) rate for OTC rouble derivatives (NDFs, NDOs) from July 2016. It undergoes annual assurance reviews for compliance with the IOSCO Principles for Financial Benchmarks, and is also in the ISDA's FX Definitions. 

Moscow Exchange offers a one year marketing period for fixing trading during which fees of one third the spot rates are applicable (0.0005% for SPT_0; 0.0004% for SPT_1000; 0.0003% for SPT_2000).

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