MOEX terminates interdealer repo rate indicators

Moscow Exchange introduced interdealer repo rate indicators individually for its equity repo market and bond repo market in 2009. In 2014, MOEX complemented its index offering with CCP repo rate indicators to provide market participants with a benchmark for on-exchange repo with the central counterparty, the most significant and dynamically developing segment of the Russian money market.

The MOEX CCP repo rate indicators allow market participants to have impartial information on the money market rates. MOEX provides the CCP repo rates net of bilateral limits of participants; it thereby facilitates liquidity flows between various groups of the repo market participants and makes the rates and thus the indicators, closer to the market.

From 3 January 2019, MOEX will terminate the calculation and publication of its interdealer repo rate indicators because of growing liquidity on the repo market and a shift to CCP-cleared repo trading, particularly in rapidly evolving GCC repos, in recent years.