The foreign exchange market of the Moscow stock exchange. Currency trading on the Moscow stock exchange

The Moscow stock exchange was formed several years ago (in 2011) on the basis of the MICEX (Moscow Interbank Currency Exchange) and the RTS (Russian Trading System) that were formed in the nineties of the twentieth century.

The established holding also includes ZAO National Settlement Depository, which is a non-bank credit institution, and ZAO AKB National Clearing Center.

Shareholders holding the Moscow Stock Exchange among others are such major banks as:

• The Central Bank of Russia (more than thirteen percent of shares).
• Sberbank (about ten percent).
• Vnesheconombank (about eight and a half percent of shares).
• EBRD (almost six percent).

The chairman of the board is A. Afanasyev, and the chairman of the supervisory board is A. Kudrin.

The Moscow stock exchange has quickly gained popularity, has entered the twenty largest stock markets of the world and in ten leading exchanges in the world on derivative financial instruments.

Moscow stock exchange, currency market: tenders

Various operations are carried out on the exchange:

• With securities. The stock market here consists of the share capital market (shares, investment funds, depository receipts, mortgage certificates, T + 2 bonds) and the debt capital market (T + 0 bonds).

• With precious metals. Calculations occur at different times, from one day to six months. Bidding is conducted with gold and silver. With the remaining precious metals, you can conclude futures deals.

• With production financial instruments and commodities of large-scale demand through the market of futures contracts.

• With currency. In addition to the Russian ruble, the Moscow Exchange has in its arsenal the dollar, the euro, the Belarusian ruble, the Ukrainian hryvnia, the Chinese yuan and the Kazakh tenge.

Trades on the Moscow Stock Exchange are held on weekdays on schedule. In different markets there is a different time of bidding. For the currency market, working hours are from ten to half a sixth; In the mode of off-system transactions - up to twenty-three hours fifty minutes.

Private investors in the foreign exchange market

The foreign exchange market of the Moscow stock exchange was previously only available to banks, but for some time now broker companies have also been authorized to conduct trades. And to obtain speculative or investment income, the services of the Moscow Stock Exchange can be used by private investors. However, they will not be able to trade directly, so they go through brokerage firms that are admitted to trading.

On the official website of the Moscow Stock Exchange you can find a list of bidders. For today, there are about seven hundred such organizations. The overwhelming majority of them are banks and only a small part, namely five percent, is accounted for by brokerage companies. The Moscow Currency Exchange is a platform mainly organized for trading with foreign currency at the Single Trading Session (shortly ETC).

Through brokerage companies, private investors can trade in currency, securities, precious metals, on options and futures.

But, as a rule, most private investors trade on the foreign exchange market.

The volume of trading on the foreign exchange market

What is the volume of trading in the foreign exchange market of the Moscow Stock Exchange? In 2012, it amounted to one hundred and seventeen trillion rubles.

For 2013 the foreign exchange market of the Moscow stock exchange grew by thirty three percent and amounted to one hundred and fifty six trillion rubles (compared to the previous year). Having low volatility of currencies, spot trades fell by almost seven percent, and swap transactions, on the contrary, increased significantly - by seventy-eight with a small percentage. The factors that served the growth of Russian and foreign participants were the emergence of new exchange products and increased convenience in the market.

In 2014, growth was forty-six and a half percent (compared to 2013). When the Central Bank released the ruble into free float, only in December the Moscow Currency Exchange registered a bid of 25.6 trillion rubles, of which ten trillion were cash transactions, and the rest - swap deals. This is almost ten trillion rubles more compared to December of the previous year.

One representative of the exchange explained such a large increase in investment and interest rates by the fact that market participants held a large amount of currency in rubles. Therefore, interest income was so great. The rate level helped to increase the income during the currency crisis.

Generally, the revenue in percent is about half of all income of the Moscow stock exchange. For example, on the London Stock Exchange, interest income was in the region of five percent, and on the Warsaw Stock Exchange in 2014 equaled zero.

Forex and Moscow stock exchange: differences

The foreign exchange market of the Moscow stock exchange and Forex have cardinal differences. Let's consider some of them.

Ninety-nine percent of the "kitchens" of Forex do not withdraw applications for the interbank market. They remain inside a company, often registered in the offshore zone, sometimes only positioning itself as Forex, in fact it is not. It is with these companies that the comparison is carried out below.

1. Regulation

The foreign exchange market of the Moscow stock exchange is regulated by acts adopted by the Central Bank of Russia, internal rules and regulations. Forex companies are often in offshore zones, some of them are essentially fake ones, not included in the register at all, although they position themselves differently.

2. Status of applications

At the Moscow stock exchange, applications submitted through a broker enter the market and become visible to all those participating in the market. An application submitted through a Forex broker will remain inside the company's system and will not be visible on the market.

3. Guarantees for transactions

It's not enough just to make a deal, it's important to get money in the end. Settlements on the Moscow Stock Exchange are made by ZAO National Clearing Center, while Forex brokers often provoke conflicts in order to refuse to make a profit.

4. The possibility and absence of the broker's influence on the currency price

The rate on the Moscow stock exchange is established jointly, with the participation of all bidders. In Forex, you have to bargain with the company itself, which can easily delay the quotation, or, for example, increase the spread between ask and bid. The broker here can not influence this.

5. Who is the counterparty

The Moscow stock exchange has one more advantage. The dollar, ruble, euro or other currency is used in trading with the whole market, and in Forex - against the broker. Therefore, a broker in Forex is directly interested in the loss of his client.

6. Cash currency

The purchased currency can be stored in the bank account. In trading with a Forex broker, there is no such possibility.