18 August 2020 | AtoZ Markets – MOEX is Russia's largest exchange group and one of the ten leading exchange platforms globally for derivative trading. It operates a public trading market for stocks, bonds, derivatives, forex, and money market products. The exchange also operates the Central Stock Depository of Russia and the country's largest clearing service provider. It also offers information services, software solutions, and other technical support to the Russian securities market.
MOEX Extends Trading Hours of FX and Derivatives Markets
In Q1 2021, the MOEX will launch morning sessions trading on the FX and derivatives markets. MOEX's Forex and Derivatives trading is approximately 14 hours from 7:00 AM to 8:50 PM (GMT). After this initiative, MOEX's trading hours in the FX and derivatives markets will be 17 hours per day from 4:00 AM to 8:50 PM (GMT).
FX and derivatives trading remained strong as investors' interest rapidly recovered from the deep volatility of Covid-19. MOEX said it has been considering extending trading hours for many years to attract more customers, and this year it extended the stock market evening session to attract investors. It also plans to extend the morning session to increase liquidity from the Asian market. "Early next year, it will be beneficial for eastern customers and in line with international practice."
According to the MOEX, trading in both markets will close as usual. The extended trading hours will be reported at a later date. MOEX said, "By introducing morning trades for FX instruments and derivatives, MOEX is in line with international trends: many global platforms that trade similar types of assets operate 24 hours a day, five days a week."
In Russia, the number of individual investors in the Forex market has increased significantly. MOEX is under the initiative to make Russia one of the world's leading financial hubs for institutional investors.
Russia has observed a continuing decline in customer complaints regarding FX brokers. In Q1 2020, the central bank registered 293 complaints, a 4% drop from last year. However, Russia banned anonymous deposits into online wallets, which affected 10 million users nationwide. According to authority, the initiative aims to curb illegal acts such as terrorist financing and illegal drug trafficking.
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