Moscow Exchange increases stake in e-FX trading platform NTPro to 95%

On 26 October 2021, Moscow Exchange completed the acquisition of a 65.5% stake in BierbaumPro AG which is 100% owner of NT Progress, the developer and owner of OTC FX trading platform NTPro. The transaction increased Moscow Exchange's ownership in BierbaumPro AG from 29.5% to 95%.

The platform offers solutions for liquidity aggregation, matching and algo execution across a wide range of FX instruments, as well as services to connect to more than 60 currency liquidity providers. In 2021, NTPro's average daily turnover was approximately USD 7.5 billion.

The partnership between MOEX and NTProgress will expand both companies’ service offering and allow the two parties to offer clients NTPro’s highly flexible advanced FX trading solutions alongside MOEX’s clearing and settlement facilities.

Moscow Exchange has already rolled out the Linking with Global Liquidity Providers service on the FX Market based on NTPro technology. Market participants can conclude spot transactions in G10 currencies at global OTC market prices with settlement through the National Clearing Centre (NCC, part of Moscow Exchange Group).

Moscow Exchange plans to offer clearing of OTC trades with pre-clearing collateral check by NCC to NTPro clients in December 2021, which will allow them to use exchange-traded collateral to operate on the OTC market through the platform. In the future, this service will be made available to participants of other electronic platforms as well.

Moscow Exchange expects to further develop the NTPro platform in close cooperation with the current team.

On 5 March 2020, the Supervisory Board of Moscow Exchange approved an agreement implying the acquisition of a minority stake in BierbaumPro AG and a further phased consolidation of ownership to 100% over a three-year period. In July 2020, Moscow Exchange acquired a 17% stake in BierbaumPro AG, which was increased to 24.99% in December 2020 and to 29.5% in early October 2021.