The meeting of shareholders of the Moscow Interbank Stock Exchange
ever less So it has turned out that the next meeting of shareholders of the Moscow interbank currency stock exchange (Moscow Interbank Stock Exchange) has coincided with change of the mechanism of definition of an official rate of rouble to dollar. Henceforth the Central Bank itself will daily establish an official rate, being based on quotations not only exchange (the Moscow Interbank Stock Exchange course was earlier official), but also the off-exchange market. The Central Bank innovation has caused variety of questions, including on destiny of a course of the Moscow Interbank Stock Exchange to which all so have got used, and the stock exchange. It is no wonder therefore that results of activity of the Moscow Interbank Stock Exchange last year have faded into the background, and the main theme of a steel of prospect of a stock exchange.
For destiny of a platform it is possible not to worry
Since 1992 of concept “ official “ and “ exchange “ a rouble exchange rate to dollar were identified. It is no wonder therefore that the course fixed on the Moscow Interbank Stock Exchange on Tuesdays and Thursdays, was object of steadfast attention of huge army of bookkeepers, employees of tax services, customs officers, yes what there to speak, almost all Russian society. And here, since Friday the market price has ceased to be what it was without small four years. Such incident can quite make confusion in minds and generate puzzled questions: and what now a stock exchange? And whether to cover now in general the currency auctions on the Moscow Interbank Stock Exchange?
however if to cope with excitement and easy to consider a situation, it becomes clear that with a stock exchange anything terrible does not happen. Yes, really, volumes and value of the exchange currency market for the last years have essentially decreased. The mighty off-exchange currency market has developed. It, in particular, the Central Bank innovation also speaks. Nevertheless the currency auctions at a stock exchange undoubtedly will exist still long time. The reasons for that a little.
In - the first, the modern device of the off-exchange currency market imperfectly. For very many banks, especially small and average, the stock exchange remains as a matter of fact a unique place where they can conduct valjutoobmennye operations for themselves and the clients (on Mezhbank “ krupnjak “ or it becomes simple not to talk to small bank, or will break the high commission “ for risk “) . Besides, the interbank currency market basically is not insured from the crises similar to volume that has burst in August of last year in market MBK. The Moscow Interbank Stock Exchange “ will not give out “ - there there is a threefold protection against risk of non-delivery of currency or roubles one of participants of the transaction.
in - the second, it is impossible to dismiss and purely psychological factor, force of a habit. All - taki four years...
and a signboard nevertheless it would be time to replace
However confidence of the Moscow Interbank Stock Exchange of tomorrow it is connected all - taki not with the exchange currency auctions. The matter is that the Moscow Interbank Stock Exchange is already, strictly speaking, not the currency stock exchange, is multipurpose financial institution where trade in currency any more does not take for a long time the first place.
today the turn of the auctions by the state securities repeatedly surpasses volumes of trading sessions in foreign currencies. By the way, rewarding of a management of a stock exchange by medals " became curious event of the last meeting of shareholders; 5 years to the Russian stock market “. To Alexander Zaharovu and other employees of a stock exchange has handed over their vice-president of the Central Bank Alexey Kozlov.
and when the Moscow Interbank Stock Exchange will start for a long time the promised project of section of the urgent market and to a today`s tooling futures, options and type transactions " will increase; repo “ the currency market share will be reduced even more strongly. Moreover, a priority direction of work of a management of a stock exchange is today the organisation of the auctions by corporate securities, the blessing the Moscow Interbank Stock Exchange infrastructure creates all preconditions for successful realisation of this project. If to assume that these plans will be embodied in time (the stock exchange management believes that it can already occur in second half of year), shareholders of a stock exchange should reflect on change of its name seriously.
VYACHESLAV - SIROTKIN