Keying into the Russian Central Bank's key rateBusiness & Economy July 27, 15:59
Decision to strip Saakashvili of Ukrainian citizenship ‘not Kremlin’s problem’Russian Politics & Diplomacy July 27, 15:43
NHL three-time Stanley Cup winner Malkin still hopes to play for Russia at 2018 GamesSport July 27, 15:33
Brazilian football team’s staff kick off Russian language practice ahead of 2018 World CupSport July 27, 14:48
Kremlin explains why commenting on new US envoy pick would be inappropriate nowRussian Politics & Diplomacy July 27, 14:37
Kremlin comments on EU sanctions against RussiaRussian Politics & Diplomacy July 27, 14:36
Russian, Finnish presidents to discuss stability, security in Baltic regionWorld July 27, 14:24
Putin appoints Russia’s permanent representative to UNRussian Politics & Diplomacy July 27, 13:41
CEO vows Shell will strive to honor its Nord Stream 2 commitmentsBusiness & Economy July 27, 13:31
MOSCOW, March 17. /TASS/. The Moscow Exchange has started trading in a futures contract on the currency pair Chinese yuan - Russian ruble, the exchange said in a statement Tuesday. According to the statement, the launch has been driven by a substantially increasing yuan turnover on the Exchange, growing volume of settlement in the currency between Russia and China as well as newly arising demand for hedging of such transactions.
According to Andrey Shemetov, First Deputy CEO of Moscow Exchange, the launch of the yuan-ruble futures is "the next step made by the Moscow Exchange to offer a full range of yuan instruments and hedging tools to participants".
"We expect that the new contract will be liquid and in-demand as other Exchange's derivatives, and facilitate the trade turnover between China and Russia", Shemetov said.
The contract is cash-settled against the Moscow Exchange yuan-ruble fixing.
The contract's expiry dates are every 15th day of March, June, September and December.
IM size is 12%. Metallinvestbank will act as the market maker for the contract, according to the statement.
In 2014, Moscow Exchange's turnover in the Chinese currency grew 700% to 395 bln rubles ($6.4 bln). The record average daily trading volume of 541 mln yuan was seen in October, acoridng to the statement published on MOEX website.