2 Jun 2023 13:52

MOEX to transition equity market to T+1 mode in late July

MOSCOW. June 2 (Interfax) - The Moscow Exchange will transfer trading in shares and bonds to the T+1 single settlement cycle from July 31, the trading floor said in a statement.

Settlements on concluded deals in main modes of trading with securities and delivery of securities, including futures contracts on shares, will be carried out on the following trading day.

At present, stocks, bonds and Eurobonds in foreign currencies are traded on the Moscow Exchange in T+2 mode, OFZ and corporate bonds in rubles - in T+1 mode.

On the currency and money markets, the main settlement cycle is T+1.

The Exchange notes that the transition to the T+1 mode will make it possible to reduce the time costs of transactions on the group's markets, synchronize settlement of securities with currency market instruments with TOM settlements and optimize liquidity management mechanisms due to synchronization with the money market.

MOEX head Yuri Denisov announced the exchange's intention to transition to T+1 trading for shares and Eurobonds at the NAUFOR conference in mid-May.