22 Sep 2022 11:23

Moscow Exchange does not rule out some future scenario for selling business in ruble/dollar trading

KAZAN. Sept 22 (Interfax) - The Moscow Exchange does not rule out some future scenario where it sells the business of organizing currency trading in the ruble/dollar currency pair, Sergei Shvetsov, head of the supervisory board of MOEX Group, said at the Banks of Russia 21st Century forum.

When answering questions from participants at the forum regarding prospects for the forex market amid growing sanctions risks, Shvetsov said that the exchange performs a "nationwide" function in addition to its commercial function.

"In this sense, as long as the Russian economy requires ruble/dollar conversions, the currency pair will be supported. Part of Russian exports and imports are still in dollars. However, there is a fading trend, and at some point probably, in some future probably, I do not rule out that the Moscow Exchange could sell the business," Shvetsov said, stressing that, "However, this is clearly not in the near future."

"Any business could be sold," he said.

"Hypothetically, if Russia's trade and investment relations with the outside world are not dollar-based, and the dollar loses its function, then I do not rule out that it would no longer be of interest to either the regulator or the exchange, and the business could be sold," Shvetsov concluded.