Moscow Exchange adds features to repo with the CCP

Effective 4 March 2019, Moscow Exchange will offer Chinese Yuan as a settlement currency for overnight repos with the central counterparty. Currently, market participants may settle CCP-cleared repo transactions in RUB, USD and EUR.

Additionally, OFZs will be made available for order book CCP-cleared repos with maturities of one month and three months. At present, the maximum maturity for this kind of repo in OFZs is one week.

These new instruments will encourage growth of the CCP repo market and boost liquidity.

The Money Market is one of  Moscow Exchange’s fastest growing businesses. It offers deposit auctions, repo trading, including repo with the central counterparty (CCP) and repo in general collateral certificates (GCC), repo with the Bank of Russia, inter-dealer repo and repo with collateral management by NSD. Trading volumes in 2018 totaled RUB 364.2 trillion with an ADTV of RUB 1.5 trillion. Repo with the CCP, including GCC repo, is the top Money Market segment, with an ADTV of more than RUB 1 trillion.