Rus News Journal

The stock exchange podstrahovala the currency market

the Incorporated stock exchange of the Moscow Interbank Stock Exchange - RTS takes new measures under the insurance from risks of default of obligations in the currency market. Since February requirements to the capital of players of this market, and also the size of insurance payments in fund of a covering of risks raise.
since February, 22nd, 2012 the National clearing centre (NKTS) which is affiliated company of a stock exchange of the Moscow Interbank Stock Exchange - RTS, raises requirements to participants in the fund of a covering of risks, is told in the stock exchange message. Now the minimum size of the capital for participants - banks will raise with 5 million to 10 million (400 million rbl.), and for not bank credit organisations - with 0,5 million to 5 million (200 million rbl.) . The sum of an insurance payment for each participant of fund will increase about $60 thousand to $80 thousand

Fund of a covering of risks now $14,16 million Payment from it is generated in volume are provided to participants of the auctions in the currency market when their counterparts do not execute the obligations under transactions of purchase and currency sale. Till now payments from this fund were not made, as in the currency market there are still other tools of decrease in risks - predeposition of means, marzhin - kolly and etc. the Insurance from risks not the unique reason of participation of brokers in fund. Participants of fund have an opportunity to trade for the limited sum provided with means of fund, without a mortgaging covering of transactions. After the participant of fund exceeds this sum, all other transactions are spent by the general rules of the auctions - with pledge entering.

as have explained At a Moscow Interbank Stock Exchange stock exchange - RTS, the decision to increase the requirement to the capital of participants of the currency auctions and their payments in insurance fund it is caused by a number of the reasons. Since January, 1st of the Central Bank has raised requirements to the minimum size of the capital of banks from 90 million rbl. to 180 million rbl. for the purpose of increase of stability of bank system, and the stock exchange operates in the tideway of the same tendency. the general instability in the world financial markets forces to raise requirements to keep former level of security of fund which is one of important components of the general control system of risks - the representative of a stock exchange speaks. the currency market grows, - the general director " adds; Tserih Kepital Management Alexander ShCheglov, - therefore NKTS was necessary to reconsider the risk - management on this direction . In 2010 the total volume of transactions on the stock exchange with foreign currency at a Moscow Interbank Stock Exchange stock exchange has made 79,5 trln rbl. For 2011 the incorporated stock exchange has registered total volume in the currency market 210 trln rbl.

Mister ShCheglov assumes that measures NKTS need to be connected with the future liberalisation of the currency market: From this year possibility will trade in the currency market to have all participants of stock market, and not just banks, therefore with a view of a filtration of the market from insolvent players the stock exchange goes on increase in requirements to participants of fund .

According to participants of the market, new requirements will not reduce quantity of participants of fund. present participants will continue the presence at fund - the increase in the sum of a payment and requirements to the capital does not become for them a problem - mister ShCheglov confirms. In the big banks trading in the currency market, it confirm. Andrey Skobelin, the chief of department of conversion operations in the international markets Promsvjazbanka (the capital - 57 mlrd rbl.) Has declared: We will easily increase the insurance payment . On the other hand, medium-sized banks will continue to trade in currency without participation in insurance fund. In Russian national bank (the capital - 321 million rbl.) have declared that the bank is not a member of fund of a covering of risks and participates in the currency auctions at a stock exchange in accordance with general practice.