MarketFactory has added Moscow Exchange Moex) to its API connectivity solution. This addition now provides FX market participants using Whisperer access to 77 FX venues, the firm says.
By adding Moex as a venue, market participants can easily trade the Russian ruble without having to allocate scarce credit lines to hedge the RUB. Moex sees daily volume highs of up to $30 billion with international market participants accounting for approximately 40% of volumes in Russia. Additionally, trading with Moex provides market participants a cleared settlement model.
“As the FX market evolves, our clients want more connectivity options and were requesting the ability to trade the Russian ruble easily,” says Darren Jer, CEO, MarketFactory.
“We welcome MarketFactory as a new global technology and connectivity vendor of the Moscow Exchange. Cooperation with MarketFactory will help us to realise our strategy of attracting international clients to the Moscow Exchange FX market and strengthen our position as the largest and most dominant liquidity platform for Russian ruble foreign exchange trading,” adds Igor Marich, member of the management board, Moscow Exchange.