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21.10.2013 17:08

Moscow Exchange launches trading in precious metals

Moscow Exchange launched trading in precious metals on 21 October

This trading is based on the FX Market"s trading and clearing platform, allowing trading members to employ the latter's risk management system, have positions unified with FX instruments, and to use existing settlement codes. RUB, USD, EUR, CNY, and precious metals are eligible as collateral. Quotes are set in RUB per gram, and trades are settled in RUB.

The National Clearing Centre acts as the central counterparty and clearing house.

For the first time in the history of exchange trading in Russia, members can deliver precious metals via metals accounts. Banks are to be able to make transactions in bullion by the end of the month. Brinks and ТBSS, which specialise in transporting and storing precious metals, were chosen by tender to deliver said bullion. 

The exchange will launch trading in platinum and palladium in 1H14 if there is interest from investors.

The commodities market is a key part of modern exchange trading. Global investment banks and funds, as well as large enterprises, use commodities to diversify their investment portfolios and hedge against risk. The Russian market is seeing strong demand for high quality commodity assets from all investor categories. The market offers banks reliable exchange infrastructure for bullion trades, and brokers a clear opportunity to attract new clients. Producers and consumers can hedge against risk and enjoy enhanced metals liquidity.

About Moscow Exchange

Moscow Exchange Group manages the sole multifunctional stock exchange platform in Russia for shares, bonds, derivative instruments, currency, money market instruments and commodities. The Group includes the central depository (National Settlement Depository), and a clearing center (National Clearing Centre), performing the functions of central counterparty on the markets, which allows the Moscow Exchange to render the full spectrum of trading and post-trading services to its clients.

Moscow Exchange ranks among the world's top 20 exchanges by total capitalization of securities traded, and also among the 10 largest exchange platforms by bonds and derivatives trading. Securities of 709 issuers are admitted to trading on the stock market of the Moscow Exchange, including securities of the largest Russian companies by level of market capitalisation.

The Moscow Exchange was formed in December 2011 as a result of a merger between Russia's two main exchange groups — MICEX Group, the oldest domestic exchange and operator of the leading securities, foreign exchange and money market platform in Russia, and the RTS Group, at the time the operator of Russia's leading derivatives market. This combination created a vertically integrated public trading market across most major asset classes, which was reorganized into an open joint stock company (OJSC) and was named Moscow Exchange. The Moscow Exchange held the initial public offering of its shares on 15 February 2013 (ticker MOEX).

For further information, please contact the Public Relations Department at (495) 363-3232.