Rus News Journal

Technical changes on the Moscow Interbank Stock Exchange

Exchange Council has brought legal base under the Central Bank decision

the Decision of the Central bank on change of a procedure of payments on operations of banks at the Moscow interbank currency stock exchange, followed after memorable jump of dollar on October, 11th, has received a full legal substantiation. According to the decision of Exchange Council of the Moscow Interbank Stock Exchange, since October, 24th into action are entered Time rules of carrying out of currency transactions with US dollars and the Temporary procedure of payments under transactions with US dollars legally issued already installed changes of the mechanism of the auctions.

the Decision of Exchange Council of the Moscow Interbank Stock Exchange on acceptance of new rules and a procedure of payments has legally fixed the innovations entered administratively (for example, obligatory reservation of means on the clearing account of a stock exchange). However these two documents of Exchange Council also bring also some changes of rules of carrying out of trading sessions. In particular, the new minimum size of exposed demands - $10 000 (earlier minimum sum of the demand made $50 000) is since yesterday established. The similar decision, however, does not look unexpected and, on the contrary, it is represented a little late. Really, the increase in the minimum size of the demand has been undertaken by Exchange Council still in the end of the last year when stock exchange turns showed a confident tendency to increase. However the change which has followed through some months of a situation in the currency market, expressed in displacement of priorities among its participants and falling of interest of banks to participation in the exchange auctions, has made has made similar rules of the auctions partially acceptable for dealers. In turn, the decision of the Central Bank on change of rules of the auctions, obliged banks To buy foreign currency only within the rests of the means on the clearing account of the Moscow Interbank Stock Exchange has sharply limited possibilities of speculative game and, accordingly, did not promote increase of appeal of a stock exchange for participants of the market.
despite it, the Moscow Interbank Stock Exchange on - former remains the basic trading platform, and even negative reaction of participants of the auctions to necessity of preliminary reservation of means has not stopped the banks, wished to become members of a stock exchange. In particular, Exchange Council of the Moscow Interbank Stock Exchange has made also the decision on increase in quantity of participants of a stock exchange at the expense of Ekaterinburg Uralvneshtorgbanka, banks the Lyons credit (St.-Petersburg), Sodbiznesbank and Metropol (both is Moscow), and also bank situated near Moscow Pushkino which while is admitted only to the auctions on soft to currencies. Thus, at the moment 174 banks can take part in Moscow Interbank Stock Exchange sessions.