Recommendations of the Moscow Exchange FX Market Committee
On November 6, 2012 the FX Market committee of Moscow Exchange held a meeting. The agenda of the meeting included items about changing the FX market fees, introduction of a minimum trade fee, drafting a new methodology for FX fixings.
The Committee advised the Exchange to amend fees applied for buying and selling currencies during the Unified Trading Session from January 8, 2013 as follows:
| Variable rate, % | |||
|---|---|---|---|
| Fee schedule | Flat rate, RUB | USD/RUB, EUR/RUB, EUR/USD |
UAH/RUB, BYR/RUB, KZT/RUB, CNY/RUB |
| Basic | – | 0.0015% | 0.0050% |
| Advanced | 1,000,000 | 0.0010% | 0.0050% |
| Maximum | 2,000,000 | 0.0008% | 0.0050% |
In particular, the Committee recommended reducing rates for the fee schedule Advanced from 0.0012% to 0.0010% and for the Maximum — from 0.0010% to 0.0008%.
In addition, the meeting participants proposed introduction of a minimum trade fee in the amount of one ruble and changing the proportion between the trading fee, clearing fee and the fee for the ITS to 42.5% / 42.5% / 15% respectively, of a total fee amount.
The decision was also made to advise a new methodology for calculating the FX fixing at12:00 MSK based on average meaning of trade prices and quotes taken for one minute. The online indicator (with a per second calculation during the trading session on the basis of the methodology) was proposed.
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