Moscow Exchange Expands Range of Instruments for Bank of Russia
OREANDA-NEWS. From 21 July, Moscow Exchange will offer repo transactions with the Bank of Russia (in the "repo with the Bank of Russia: repo auction" and "repo with the Bank of Russia: fixed rate" trading modes) and interdealer repo transactions (the "repo with bonds" trading mode) in an additional 19 Russian issuers" Eurobonds from the Bank of Russia's Lombard list.
This increases the number of Eurobond issues available for repo with the Bank of Russia and interdealer repo to 116.
Since 13 May 2014, 97 Eurobond issues from the Lombard list have been admitted to repo with the Bank of Russia (in the "repo with the Bank of Russia: repo auction" and "repo with the Bank of Russia: fixed rate" trading modes). Since 26 June, they have also been admitted to interdealer repo ("repo with bonds").
The total volume of trades in these 97 Eurobonds exceeds RUB 385 bln since their admission.
Igor Marich, Managing Director of Moscow Exchange's Money Market, said: "Repo with Eurobonds are in demand from market participants, as they allow for better liquidity management, especially in the restrictive conditions which domestic institutions face on international markets. Moscow Exchange is positioned to quickly expand the list of securities admitted to interdealer repo in the event of interest from market participants. In the next stage, we plan to admit some Eurobonds to repo with the Central Counterparty."
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