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Integrated Eurasian Economic Community FX Market Opens
07.02.2013 13:43 / Moscow exchange
Belorussian BPS-Sberbank was the first among foreign banks to test the new exchange link, access the trading session and execute a Moscow Exchange FX market trade.
First FX trades by a foreign bank on Moscow Exchange finalized the long-term CIS/EEC Integrated FX market project. Russia, Belorussia, Kazakhstan, Kirgizia and Tajikistan signed the integrated FX market agreement in January 2006.
Eurasian Economic Commission Economic and Finance Minister Timur Suleimenov said at the Integrated FX Market opening ceremony in Moscow: "The success of Integrated FX Market is a result of effective joint effort by inter-state authorities, central and national banks and exchanges of our countries, aimed at creating a common currency community. Remarkably, the Moscow Exchange project allows direct integrated financial market access for a EEC member licensed by a national regulator, with no need for a Russian FX license".
Moscow Exchange Deputy CEO Andrey Shemetov said: "Moscow Exchange was the first of CIS exchanges to open direct access to the highly liquid and technologically advanced FX market for foreign banks. We are interested in international cooperation and new exchange projects that would expand our client base and assist effective Eurasian Economic Community integration and development ".
Trading infrastructure, Project Group №1, Project Group №4, Anton Shemetov