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Moscow Exchange Group includes PJSC Moscow Exchange, which operates Russia's only multifunctional exchange platform for trading stocks, bonds, derivatives, currencies, money market instruments and commodities. The Group also includes a central depository (National Settlement Depository JSC), as well as a clearing center (NCC (JSC)) that acts as a central counterparty on the markets, which allows the Moscow Exchange to provide a full cycle of trading and post-trading services to its clients.
The Moscow Exchange was formed in December 2011 as a result of the merger of two major Russian exchange groups, MICEX Group (founded in 1992) and RTS Group (founded in 1995). The vertically integrated structure that emerged from the merger, providing the opportunity to trade in all major categories of assets, was renamed the Moscow Exchange. The Moscow Exchange conducted an initial public offering of its shares on February 15, 2013 on its own trading floor (trading code MOEX).
Shares, federal loan bonds (OFZ), regional and corporate bonds, sovereign and corporate Eurobonds, depositary receipts, investment units, mortgage participation certificates and exchange-traded funds (Exchange Traded Funds - ETFs) are traded on the Moscow Exchange stock market. The shares are settled on a T+2 basis (on the second day after the transaction).
On the futures market of the Moscow Exchange there are traded: futures contracts on indices (Index of the Moscow Exchange, RTS index, RVI volatility index); futures on Russian and foreign shares, OFZ and Eurobonds of Russia-30, currency pairs, interest rates; contracts on precious metals (gold, silver, platinum, palladium, copper); futures on oil and sugar; option contracts on some of these futures.
The following currencies are traded on the Moscow Exchange currency market: US Dollar (USD), Euro (EUR), Chinese Yuan (CNY), British Pound (GBP), Hong Kong Dollar (HKD), Ukrainian Hryvnia (UAH), Kazakh Tenge (KZT) and Belarusian Ruble (BYR). The main currency pairs are USD/RUB and EUR/RUB. The weighted average value, as of 11:30 Moscow time, of the currency pair USD/RUB with settlements "tomorrow" is used by the Bank of Russia to determine the official U.S. dollar rate.
On the money market, Moscow Exchange provides repo services of the following types: repo with the Central Bank, inter-dealer repo, direct repo with the Bank of Russia, repo with collateral management system. In addition, deposit and credit transactions are available, with the Bank of Russia, Pension Fund of Russia, Federal Treasury of Russia, Vnesheconombank, etc. acting as organizers.
Gold and silver trading has been available since October 2013. The National Commodity Exchange JSC platform, which is an authorized exchange of the Russian Ministry of Agriculture, carries out state procurement interventions in the grain market.
In addition to trading services, Moscow Exchange Group offers clients a full range of clearing, settlement and depository services. Clearing services are provided to bidders by Non-Banking Credit Organization Central Counterparty National Clearing Center (Joint Stock Company) (NCO NCC (JSC)), which performs the functions of a central counterparty on all markets of the Moscow Exchange. NCC (JSC) is the only qualified CC in Russia, this status was granted to it by the Bank of Russia in 2013, and since 2014 NCC (JSC) is also a systemically important central counterparty.
Settlement and depository services within the Group are provided by the National Settlement Depository (NSD). NSD is the central securities depository of the Russian Federation. In 2014, the Bank of Russia recognized NSD as a systemically important organization in several categories: "central securities depository", "settlement depository", and "repository", and granted it the status of a nationally important payment system.
The group also offers clients information products and technological services. Information products include both real-time market data and information on trading results and indices.
Moscow Exchange actively promotes the development of the Russian financial market and its infrastructure, improves technology and enhances the attractiveness of its trading platforms and services for domestic and foreign investors and issuers.
