Moscow Exchange to launch evening session for bond trading
On 27 September 2021, after-hours trading in bonds will become available on MOEX. Investors will be able to trade federal government bonds (OFZ) and Eurobonds from 19:00 to 23:50 MSK. As a result, the Bond Market will be open for trading for 13 hours and 40 minutes daily.
The launch of the evening session on the Bond Market is part of Moscow Exchange's strategy to make on-exchange trading more accessible, primarily to retail investors, who currently number almost 14 million on MOEX. Moscow Exchange offers Russian and international stocks, ETFs, currencies, precious metals, futures and options for trading during the evening session. The evening session accounts for 9% of trading volumes in equities, 19% of futures and options and 5% of FX.
Since March this year, the FX, Derivatives and Precious Metals Markets have opened for trading at 7am MSK. A morning session on the Equity Market will launch at the end of the year.
Gleb Shevelenkov, Director of the Bond Market Department at Moscow Exchange, said:
"The evening session will be of interest primarily to retail investors, who are becoming increasingly active in the debt market: since the start of the year, around one million people have traded bonds. Bonds are the most accessible and low-risk product for new individual investors, for whom they represent an alternative to bank deposits. Extended trading hours will give these investors additional opportunities to learn about the market and make informed decisions. In addition, some significant debt market events occur in the evening, during US market hours, which will allow investors to capitalise on such events as they occur."
Evening session liquidity will be supported by market makers including leading Russian brokerage firms.
The Bond Market is currently open from 10:00 to 18:50 MSK.
The Moscow Exchange Bond Market offers OFZs, sub-federal, municipal, mortgage-backed, corporate as well as sovereign and corporate bonds. Retail investors account for 9% of OFZ, and 30% of Eurobonds trading volume.