Moscow Exchange Adopts US Dollars to Foreign Securities Trading

Moscow Exchange Adopts US Dollars to Foreign Securities Trading

The Moscow Exchange (MOEX) recently announced big news as the largest Russian exchange group will start trading foreign securities in United States dollars. The official starting date for this will be September 27th. As of writing this article, trading in this happens only in Russian rubles.

It was in July of this year that MOEX hinted at an eventual expansion of its foreign securities offerings. The ultimate goal of the exchange is to offer 1000 foreign securities by the end of 2022.

It wishes to focus on US-listed firms, as well as companies from China, Europe, and Hong Kong. As of writing this, there isn’t a lot of other news than this but we will keep our readers updated.

This Thursday, the exchange published its trading volumes for August of this year. The numbers were impressive as th4 exchange markets increased by 5.9 percent to RUB 79.7 trillion. This increase was mainly due to the driving performance of the money, derivatives, and bond markets.

In May of this year, the Russian exchange announced 20 new international stocks that it will be including in its roster of products. Many of these new products include shares from US-listed firms, Zoom, Western Digital, Virgin Galactic, and many more global companies.

Currently, the Moscow exchange has a portfolio consisting of 144 international and local stock products.

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