EDB to become a market-maker at MOEX FX market from 1 November 2016
20 October 2016
Moscow, 20 October 2016. Eurasian Development Bank and Moscow Exchange entered into an agreement, according to which EDB will become a market maker at MOEX FX market from 1 November 2016.
As a market maker, EDB will join a new market making programme for the Kazakh tenge (the kztrub_tod spot). The agreement will help EDB to maintain the liquidity market in the KZT/RUB instrument.
"Since we are at the same time a member of the Kazakhstan Stock Exchange and Moscow Exchange, we can provide competitive quotes for the rouble/tenge instrument," Dmitry Ladikov-Royev, Managing Director for Assets and Liabilities at EDB, comments. "We count that the functioning of our Bank as a market maker for the Kazakh tenge will help to improve the liquidity of these transactions at the exchange and, in the end, will promote an increase in the share of settlements in the national currencies in foreign trade transactions between Russia and Kazakhstan. This will help to foster integration between the EAEU member countries."
Dmitry Ladikov-Royev said that EDB and Moscow Exchange had also reached a preliminary agreement on EDB's future participation in KZT/RUB currency swaps. "The Bank is ready to provide liquidity for the rouble and tenge in swap transactions in the future, provided there is respective demand," the expert explained.
Additional Information:
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
EDB Media Center:
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