Clients of the the major four Chinese financial information providers, Great Wisdom, Wind, East Money, and Emoney, have started to receive Moscow Exchange (MOEX) market real-time data. They can now receive information on MOEX’s benchmark MICEX and RTS Indexes, which include volumes for bonds, equities, forex, derivatives traded in the Russian markets, and prices.
MOEX’s primary strategic goals are attracting international investors to the Russian financial markets, with an emphasis on strengthening the connections with their Chinese counterparts. The market-related information distribution is part of the agreement between MOEX and the Shanghai Stock Exchange (SSE), which is represented by its subsidiaries China Investment Information Services Ltd (CIIS) and SSE InfoNet Ltd. The new collaboration will assist the common growth of the two exchanges and two markets, as Chinese citizens will have access to Russian market data and MOEX’s business in China will expand.
Igor Marich, Managing Director and Member of the Executive Board at Moscow Exchange, stated: “We are keen to strengthen our partnership with SSE through this market data dissemination agreement. Development of links with the Chinese financial market as well as our market data business are strategic priorities for Moscow Exchange. Over the last years we have made tremendous progress in building the RMB-RUB market on MOEX and MOEX market data dissemination in China will help us to attract Chinese investors to Moscow Exchange.”
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Ms. Du Juan Wan, Chairwoman of SSE InfoNet Ltd, added: “SSE, together with other institutions, has been devoting itself to building bridges between local investors and the international capital market. With CIIS providing technical support and acting as marketing and sales agency of MOEX market data in mainland China, SSE moves a further step towards internationalization. We believe this strategic co-operation will enrich our product portfolio. Local information vendors and investors can easily access international market data through our China Investment Information Platform in a very cost effective way.”
In addition, MOEX will launch a new program on its Spot FX Market on June 1 2017, designed to stimulate liquidity on the USD/RUB currency pair. The software will support the instrument using next day settlement. This will be a first for a market making initiative on USDRUB_TOM, the most popular instrument of the spot FX market, and it aims for further liquidity development and enhanced order book quality.
It aims to further develop liquidity and improve the order book quality. During January-April 2017, the daily trading volume average of MOEX forex market was ₽318.3 billion ($5.5 billion) for spot transactions, and ₽1.1 trillion ($19.6 billion) for swaps.
Last week, Finance Magnates covered MOEX’s Q1 results, that were characterized by a decrease in profits which were said to be weighed down by forex and derivatives.