Markit Includes Moscow Exchange to FX Trading Connectivity Network

Markit (Nasdaq: MRKT), a leading international carrier of financial information services and the Moscow Exchange (MOEX), Russia’s multifunctional exchange platform, today revealed that Markit’s FX rates circulation center service included MOEX to its network of trading locations, providing FX market participants around the world expense efficient trading access to among the world’sfastest growing exchanges. MOEX’s FX ruble market volumes increased 37% in 2015 and FX derivatives volumes increased 112%, driven by both on-shore and rapidly increasing offshore consumer streams.

Markit’s FX consumers will benefit from plug and play connectivity to MOEX for price circulation and liquidity sourcing, as well as thorough post trade processing. Companies outside Russia will acquire efficient access to Russian ruble trading and guaranteed net settlement at the National Clearing Centre, Moscow Exchange Group’s regulated clearinghouse. MOEX has a family of FX ruble benchmarks, including the MOEX United States dollar ruble FX fixing benchmark, for settling off-shore derivatives and recently obtained Iosco certified status, which is anticipated to drive an increase in ruble trading volume by overseas players.

Igor Marich, head of FX and money markets at the Moscow Exchange, said: Markit’s option offers the international FX neighborhood simple access to the liquidity we provide. Our FX ruble market serves both domestic and international customers and is the most liquid and rate attractive ruble trading platform internationally. Those aiming to price into the exchange or get market information and STP will be able to take advantage of Markit’s option.

Chris Leaver, handling director and head of business development for MarkitSERV FX, said: MOEX is among the fastest growing exchanges and including it to our platform gives customers access to this essential market. With the connection option we offer, firms can be trading with any of the more than 35 locations on our network in a matter of weeks, which is a lot more efficient than the normal self-build for this type of integration.

Markit’s FX pricing distribution center is a fully managed platform for prices and liquidity sourcing for numerous FX trading channels, including all major ECNs, multi bank portals, aggregators and single dealer platforms, along with by means of direct APIs. Extra eFX modules can be incorporated with the hub, including effective rate building and construction and management, client particular price margining, low latency credit checking and thorough post trade connectivity and workflow. Business intelligence is built in to offer real time and historic feedback on prices and infrastructure efficiency.

Notes to Editors.

About Markit.

Markit is a leading global carrier of monetary details services. Markit shares are listed on Nasdaq under the sign MRKT.

About Moscow Exchange.

Moscow Exchange Group handles the sole multifunctional exchange platform in Russia for equities, bonds, acquired instruments, currencies, money market instruments and products. The Group includes the main depository (National Settlement Depository), and a cleaning Centre (National Clearing Centre), carrying out the functions of main counterparty on the marketplaces, which enables Moscow Exchange to render the complete spectrum of trading and post-trading services to its clients.

Moscow Exchange ranks amongst the world's leading 25 exchanges by overall volume of equities traded, and also amongst the 10 largest exchange platforms by bonds and derivatives trading. Since 1 March 2015 securities of 727 issuers are admitted to trading on the Equities and Bond market of Moscow Exchange, including securities of the biggest Russian companies by market capitalization.

Moscow Exchange was formed in December 2011 as a result of a merger in between Russia's 2 main exchange groups - MICEX Group, the earliest domestic exchange and operator of the leading securities, foreign exchange and money market platform in Russia; and RTS Group, at the time the operator of Russia's leading derivatives market. This combination developed a vertically integrated public trading market throughout the majority of major possession classes, which was rearranged into an open joint stock company (OJSC) and was called Moscow Exchange. Moscow Exchange held the initial public offering of its shares on 15 February 2013 (ticker MOEX).

 


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