The MoU will aim to facilitate collaboration and to unify the liquidity pools for trading with the RMB/RUB.
Moscow Exchange (MOEX), one of the largest multilateral trading platforms for RUB-denominated FX instruments, has signed a memorandum of understanding (MoU) with the China Foreign Exchange Trade System (CFETS).
The new deal centers on the RMB/RUB currency pair across the two platforms. In particular, the MoU will aim to facilitate collaboration and to unify the Liquidity pools for trading with this pair.
The two parties are ideal counterparts to achieve this aim, with MOEX specializing in platforms for currencies, money market instruments, equities, bonds, and other instruments in Russia.
The MoU itself was tendered by members of both parties. This includes Zhang Cuiwei, Executive Vice President of CFETS, and Igor Marich, Member of the Executive Board of Moscow Exchange.
"Collaboration between MOEX and the CFETS, the leading FX platforms in Russia and China, respectively, is intended to improve pricing in RMB/RUB instruments and stimulate settlement in RMB and RUB. Better links between the countries’ financial institutions should help to facilitate more cross-border investments,” explained Marich.
The MoU follows on the heels of an existing joint working group that was previously installed to help conduct research.
MOEX and the CFETS had already been working to continue exploring feasible mechanisms to unify RMB/RUB trading and matching. The working group will also push towards an optimal unification model.
More specifically, this includes the roles of the relevant counterparties for credit, trading, and net settlement intermediation, plus the adoption of important controls and reporting for compliance with Russian and Chinese Regulation.
"As part of the MoU, the two sides will also jointly explore business projects including the feasibility of a unified liquidity pool for CNY/RUB. Such efforts will further expand the opening-up of China-Russia financial markets, improve trade and investment liberalization and deepen China's financial cooperation with countries participating in the Belt and Road Initiative,” noted Zhang Cuiwei.
Moscow Exchange (MOEX), one of the largest multilateral trading platforms for RUB-denominated FX instruments, has signed a memorandum of understanding (MoU) with the China Foreign Exchange Trade System (CFETS).
The new deal centers on the RMB/RUB currency pair across the two platforms. In particular, the MoU will aim to facilitate collaboration and to unify the Liquidity pools for trading with this pair.
The two parties are ideal counterparts to achieve this aim, with MOEX specializing in platforms for currencies, money market instruments, equities, bonds, and other instruments in Russia.
The MoU itself was tendered by members of both parties. This includes Zhang Cuiwei, Executive Vice President of CFETS, and Igor Marich, Member of the Executive Board of Moscow Exchange.
"Collaboration between MOEX and the CFETS, the leading FX platforms in Russia and China, respectively, is intended to improve pricing in RMB/RUB instruments and stimulate settlement in RMB and RUB. Better links between the countries’ financial institutions should help to facilitate more cross-border investments,” explained Marich.
The MoU follows on the heels of an existing joint working group that was previously installed to help conduct research.
MOEX and the CFETS had already been working to continue exploring feasible mechanisms to unify RMB/RUB trading and matching. The working group will also push towards an optimal unification model.
More specifically, this includes the roles of the relevant counterparties for credit, trading, and net settlement intermediation, plus the adoption of important controls and reporting for compliance with Russian and Chinese Regulation.
"As part of the MoU, the two sides will also jointly explore business projects including the feasibility of a unified liquidity pool for CNY/RUB. Such efforts will further expand the opening-up of China-Russia financial markets, improve trade and investment liberalization and deepen China's financial cooperation with countries participating in the Belt and Road Initiative,” noted Zhang Cuiwei.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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