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Russian Markets Update

Russian Markets Update. Sergey Romanchuk , Head Of FX&MM, Metallinvestbank, NFEA Council Member, President ACI Russia . FX Committee Chairman, Moscow Exchange. 13 th International Ruble Settlement Forum, London, 23.04.2013. Table of contents FX Market volumes London vs Moscow

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Russian Markets Update

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  1. Russian Markets Update Sergey Romanchuk, Head Of FX&MM, Metallinvestbank, NFEA Council Member, President ACI Russia. FX Committee Chairman, Moscow Exchange 13th International Ruble Settlement Forum, London, 23.04.2013

  2. Table of contents FX Market volumes London vs Moscow Moscow Exchange volumes and structure Metallinvestbank’s wholesale RUB market platforms utilization Moscow Exchange innovations OTC Clearing FX Futures, OIS RUONIA Futures Financial markets legal base development OTC Repository Reporting: FX Swap, REPO, FX Spot, Derivatives Development of settlements: BESP using by Metallinvestbank 13th International Ruble Settlement Forum, London, 23.04.2013

  3. 13th International Ruble Settlement Forum, London, 23.04.2013

  4. Interesting Moscow Exchange charts USDRUB Options: Open Interest S Source: Moscow Exchange 13th International Ruble Settlement Forum, London, 23.04.2013

  5. 13th International Ruble Settlement Forum, London, 23.04.2013

  6. Moscow Exchange innovations OTC Clearing It is planned to be launched in July 2013 and based on existing market conventions regarding OTC derivatives valuation. Could be covered 100% by USD or securities. CCP classification by CBR will help to avoid any significant CVA changes. OIS RUONIA Futures, FX Futures OIS RUONIA Futures launch today (23APR2013). Trade OIS rate from current tom value date to quarterly expiration dates. FX Futures: new currency pairs (USDJPY, USDCHF), move to the new USDRUB Fixing or Deliverable contracts. Cross margining for FX spot and FWDS, FX Futures, Cleared OTC Derivatives. Transition to T+2 settlements for securities trading on ME (already started, T+0 to be terminated for stocks trading in JUN2013). 13th International Ruble Settlement Forum, London, 23.04.2013

  7. Financial markets legal base development OTC Repository Reporting: FX Swap, REPO, FX Spot, Derivatives National Settlement Depository has started offering service with marketing period for FX Swaps (with tenor more then T+2 days) and REPO trades. Mandatory reporting from NOV2013. NP RTS looking forward to start nearest time as alternative choice. USDRUB FX Spot trades reporting will be mandatory as well as all kinds of derivatives when Repository will be ready to accept. International agreements (ISDA and ICMA) will be accepted (with CSA) THIS WILL MAKE RUSSIA NETTING ELIGIBLE FOR INTERNATIONALS SINCE THEY START REPORTING EVEN BEFORE MANDATORY REPORTING DEADLINE 13th International Ruble Settlement Forum, London, 23.04.2013

  8. 13th International Ruble Settlement Forum, London, 23.04.2013

  9. 13th International Ruble Settlement Forum, London, 23.04.2013

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