X5 Retail Group gets direct access to Moscow Exchange FX and Money Markets
Oct 1, 2018 10:00 am
X5 Retail Group N.V. (“X5” or the “Company”), a leading Russian food retailer , has secured direct access to the FX Market and deposits with the central counterparty of the Moscow Exchange
“X5 is the first retailer to gain access to MOEX’s FX Market. This is further proof of our commitment to leadership, innovation and efficiency,” X5 CFO Svetlana Demyashkevich commented.
Currently some 90 Russian companies have direct access to the FX and Money Markets of the Moscow Exchange. In 8M 2018, they traded USD 4.8 bn and RUB 13.1 tn in currencies and deposits with the CCP, respectively. Trading on MOEX markets is now available to companies from a variety of sectors, including oil and gas, energy, mining, chemicals, finance and construction.
In January 2017, Russian businesses that are not credit institutions or professional securities market participants were allowed to transact in currencies on MOEX alongside banks and brokers. In July 2017, the Moscow Exchange opened up its Money Market to Russian corporates, enabling them to place deposits with the central counterparty at market repo rates.
Source URL: http://eurasiatx.com/x5-retail-group-gets-direct-access-moscow-exchange-fx-money-markets/
Copyright ©2020 eurasiatx unless otherwise noted.