Deposits with the Central counterparty (CCP)

DIRECT DEPOSITS WITH THE CCP

for companies not authorised to make transaction as a professional
securities market participant

	Benefits
	Favourable deposit rates Wide range of participants Single central counterparty limit; no need to set and review limits for other counterparties
	Safety
	Deposits with banking institution CCP NCC  Settlement guarantees from the central counterparty Reliable risk management processes approved by the Bank of Russia
	Transparency
	Moscow Exchange is the price discovery center of the money market Direct access to a competitive trading environment Provision of benchmarks for money market rates
	Efficiency
	Online trading; "one-click" trade execution Convenient document interchange An option to withdraw funds from 10:00 MSK on the repayment date
	Availability
	Trading hours: 10:00-19:00 Competitive market making

• Deposit currency: RUB,CNY
• Maturity: D1-Y1
• Deposit transactions are made with either the CCP or the market
• Deposit orders entered by corporates are matched with cash-driven GCC repo orders
• Corporates enter deposit orders via MICEX Trade SE terminal

1. Matching between a GCC repo order and a deposit order

    
   

• Capital (section 3 of the balance sheet):> RUB 500 million
• No signs of bankruptcy
• Reported profit from operations (applied by the decision of the Exchange)
• Minimum of two employees with experience in financial market operations

   Further criteria for admission to trading without the requirement for full collateral:

• Capital (Section 3 of the balance sheet): > RUB 10 billion
• Balance sheet total: > RUB 50 billion
• Contribution to the Guarantee Fund: RUB 1 million
• Quarterly reporting (monitoring of the financial position on a quarterly basis)

The following entities are eligible to trade deposits with the CCP:

• Russian companies
• Credit organisations
• Licensed participants: insurance companies, mutual funds, joint stock investment funds, non-government pension funds

Participants seeking admission to trading with 100% collateral required must:

• Show no signs of insolvency;
• Demonstrate a positive P&L (applicable as decided by the Exchange)

Russian companies:

• Capital (as per Section 3 of the balance sheet) of no less than RUB 1 bn;
• At least two employees with a professional background in financial market operations;

Further requirements for admission to trading without 100% collateral required:

• A RUB 1 million contribution to the Guarantee Fund;
• Providing quarterly financial statements (financial position monitoring on a quarterly basis)

Russian companies:

• Capital (as per Section 3 of the balance sheet) is more than RUB 10 bn;
• The balance sheet total is more than RUB 50 bn;

*not a trading member of the Equity & Bond Market

• Deposits with the Central Counterparty (CCP)

money market department team
telephone: +7-495-363-3232, ext. 5424, 5398, 5396, 5455
email: repo@moex.com