By Andrei Skvarsky.
The Moscow Exchange has given unrestricted access to its currency market to banks domiciled in Belarus, Kazakhstan, Kyrgyzstan and Tajikistan.
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Banks in the four countries, which, together with Russia, are building a so-called Eurasian Economic Community, no longer need a Russian currency trade licence for access to the Moscow bourse’s currency market. Their national licence will be sufficient, according to a statement from the exchange.
Belarus, Kazakh Kyrgyz and Tajik banks will enjoy the same rights as their Russian counterparts in all areas of the Moscow Exchange’s currency market. They will be able to have their clients registered in the exchange’s clearing system and provide them with direct market access (DMA),
The move completes forming the so-called Integrated Currency Market of the Eurasian Economic Community.
Belarus’s BPS-Sberbank was the first non-Russian bank to make use of the new rule and to carry out a transaction.
“The Moscow Exchange is the first exchange in the CIS to be able to give direct access to trade in its high-liquidity and highly technological currency market to foreign lending organisations,” said Andrei Shemetov, deputy chief executive of the bourse.
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