Fees for spot block trades
To stimulate spot liquidity and turnover on its FX Market, Moscow Exchange is to introduce differentiated fees, which will depend on order size, on 1 December. The move aims to improve order book quality following an increase in the number of block orders and trades.
The volume-related fee for trades executed based on orders of 10,000 lots (10,000,000 lot currency units [for USD and EUR]) or more will be reduced by 2 bps from its current level:
| Fee plan | Order of < 10,000 lots | Order of ≥ 10,000 lots |
|---|---|---|
| SPT_0 | 0.0015% | 0.0013% |
| SPT_1000 | 0.0010% | 0.0008% |
| SPT_2000 | 0.0008% | 0.0006% |
The new volume-related rates will be applicable only to initial orders (maker orders). Trades based on matching orders (taker orders) will continue to be priced at the current rates regardless of their size.
If a block order is partially filled, the rate is as follows:
- 0.006% — 0.0013% (depending on the broker"s fee plan) if a broker enters an order of 10,000 lots or more with time priority (a maker order),
- 0.0008% — 0.0015% (depending on the broker"s fee plan) if a broker enters an order of fewer than 10,000 lots which fills part of a block order and/or is entered later than the matching order (the taker order).
The above rates will be applicable to order book spot trades with TOD, TOM, and SPT settlement.
Fees for trading blocks of 10,000 lots and more (pptx, 1034 Kb)