Participants in MOEX money market will be able to hold deposit auctions in yuan
MOSCOW. June 28 (Interfax) - The Moscow Exchange has provided an opportunity for money market participants to place and raise funds in Chinese yuan in the M-Deposits segment and on the MOEX Treasury platform, the stock exchange said.
Operations for up to one year are available to clients.
The yuan became the fourth currency available for transactions on the deposit auction market, in addition to the Russian ruble, US dollar and euro.
It also became possible to settle transactions on the M-Deposits market using the National Settlement Depository (NSD).
M-Deposits is a segment of the MOEX money market, which allows for deposit auctions, where the organizer places funds in credit institutions. The volume of operations in this segment for 2023 to date is 79.5 billion rubles.
MOEX Treasury is a single web interface for corporate clients to access the money, currency and derivatives markets of the Moscow Exchange. The total volume of transactions through it in the first five months of 2023 more than doubled compared to the same period last year to over 3 trillion rubles. Today, 125 Russian companies are connected to MOEX Treasury.