In September Citigroup, Credit Suisse, Merrill Lynch, and Morgan Stanley and will begin to offer to their clients direct market access (DMA) to securities trading on Moscow Exchange.
It is expected that two additional major global banks will start the service later this year.
The exchange’s shift to T+2 settlement, as well as the establishment of centralized clearing and a central securities depository, have paved the way for direct market access for foreign investors to trade Russian securities on Moscow Exchange.
International investors, through the new exchange infrastructure, will be able to trade equities, while collateral for trading can be posted in Russian Roubles, securities, as well as US Dollars and Euros.
Andrey Shemetov, deputy chief executive of Moscow Exchange, says: “Our migration to T+2 marks a new phase of Moscow’s integration into the group of the main global financial centres. Investors from around the world can now trade Russian assets directly in a more convenient way. As we look ahead our key objectives are to further modernise our infrastructure, broaden our product offering and increase liquidity across our markets.”