MOEX Group
Registration
0
0
Ru  /  En
  • Markets
  • Indices
  • Market data
  • Listing
  • Connectivity
  • News and events
  • About MOEX
  • Investor Relations
National Settlement Depository
National Settlement Depository (NSD) is the central securities depository of the Russian Federation
National Clearing Centre
Central Counterparty National Clearing Centre acts as a Clearing House and CCP in the Russian financial market
National Mercantile Exchange
Regulated commodity markets
News and events

News and events

Newsroom
Events calendar
Subscription management
Subscription Print version
21.05.2013 18:23

Moscow Exchange provides update on introduction of T+2 settlement regime

Moscow Exchange announces that as of 8 July 2013 the number of stocks available for trading with settlement on a T+2 basis will increase to 25. Moscow Exchange introduced T+2 settlement on 25 March 2013 for the 15 most liquid stocks traded on the exchange and for all government bond issues; these securities concurrently remain available for T+0 settlement until 2 September 2013. From 1 January 2014, T+2 settlement will apply to all securities listed on the Moscow Exchange.

Also starting 8 July 2013, the following new features will become available to securities market participants:

T+2 trading:

  • Consolidated cash accounts for T+0 and T+2;
  • Consolidated securities accounts for T+0 and T+2;
  • New trading regime: "T+ without short selling";
  • New trading regime: "T+ without uncovered buying".

Repo with Central Counterparty (CCP):

  • Launch of off-order book trading of stocks with CCP repo;
  • New Y1/Y2 settlement code. 

Under the new version of the National Clearing Center Clearing Rules, as of 8 July 2013, requirements for Clearing Members of the Moscow Exchange"s Securities and Money Markets will change regarding contributions to the Guarantee Fund and the size of their own capital. Repo with the CCP will be available only to Trading Members with capital of at least RUB180.0 mln, while contributions to the Guarantee Fund have been set as follows:

  • RUB5.0 mln for Т+2 and repo with the CCP; trades only on behalf of a Trading Member;
  • RUB10.0 mln for Т+2 and repo with the CCP; trades also executable on behalf of a Trading Members" clients.

In addition, the new version of the Clearing Rules allows the use of up to 100% foreign currency (US dollars) as collateral for T+2 trades from 3 June 2013. This will help reduce funding costs for market participants.

For more information about all the changes and innovations introduced by the Moscow Exchange, please see our presentation.

Detailed information on the changes to be introduced in the third stage of phasing in T+2 will be announced in due course. 

For further information, please contact the Public Relations Department at (495) 363-3232.

Main news