Bank Of America Enters Moscow Stock Exchange FX

Bank of America, National Association (BANA) is about to enter the Moscow Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (MOEX) as a clearing member and will begin active trading in January 2016, MOEX announced Friday. “The Bank is in the process of finalizing necessary documentation,” said the press release.

By entering the foreign exchange, BANA, which will trade via Merrill Lynch Securities, will become the first non-resident global bank with general clearing membership on MOEX's currency market.

The New Status

MOEX began offering general clearing membership for Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Market participants on the 1st of December 2014, provided foreign exchange market participants the opportunity to receive a new status - "General Clearing Member". This type of membership implies the separation of the trading and clearing memberships that allow Russian and foreign financial institutions to provide clearing services to trading firms and other Russian and foreign banks, companies and individuals operating on the MOEX's Forex Market.

MOEX is the largest exchange holding company in Russia and Eastern Europe, formed in late 2011 by the merger of the groups exchange MICEX and RTS. Moreover, MOEX is one of the twenty leading sites in terms of trading securities and the total capitalization of tradable shares, and is one of the ten largest derivatives exchanges.