Moscow Exchange to double the tick for some forex instruments

Moscow Exchange has announced it will increase the price tick for USD/RUB, EUR/RUB and GBP/RUB foreign exchange spot instruments to RUB 0.001 from today’s RUB 0.0005 with effect from February 2.

The tick remains unchanged for other spot instruments and swap transactions.

“We are increasing the price tick for major currency pairs in response to demand from market participants,” a statement from the exchange quoted the head of its money market, Igor Marich, as saying.

“The larger price tick will boost order book liquidity and bring Moscow Exchange’s FX Market in line with our Derivatives Markets, where the price tick is already RUB 0.001,” Marich said.

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