PJSC ALROSA said it had begun direct trading on Moscow Exchange’s FX Market from April 4, 2017.

This follows permission granted, since January 16, 2017, to legal Russian legal entities “that are not credit organisations or professional participants of the securities market to enter the FX market directly on equal terms with banks and brokerage firms”  the Company said.

“Among the key benefits of entering the exchanging currency market is a high level of information awareness with the possibility to buy at the market, and presence of a central counterparty, the functions of which performs the Bank National Clearing Centre, which guarantees the discharge of liabilities to bona fide participants and relieves them from the necessity to assess risks and fix limits against each other,” ALROSA elaborated.

Igor Kulichik, ALROSA Vice President – Chief Financial Officer, commented: “Access to the exchanging currency market will allow ALROSA to increase the efficiency of sale-purchase of FX, will allow minimising the costs of these operations. Clearing and settlement services of the Moscow Exchange ensure convenient and prompt settlements. I believe the possibility to enter the exchange trading marketplace will become interesting for other corporations as well.”

Igor Marich, Managing Director of Money and Derivatives Market, Moscow Exchange, remarked: “Moscow Exchange is working to expand the range of products and bring in new clients. Appearance of a new category of participants responds to global tendencies and will allow further boosting stock trading liquidity, and corporations will be able to enhance the efficiency of FX transactions while minimizing the risks. We are working with a number of major corporations interested in the access to trading at Moscow Exchange’s FX Market.”