Moscow, 1 October 2018 – X5 Retail Group N.V. ("X5" or the "Company"), a leading Russian food retailer (LSE and MOEX ticker: FIVE), has secured direct access to the FX Market and deposits with the central counterparty (CCP) of the Moscow Exchange.
"We welcome a major retail player joining the MOEX FX Market. Many Russian businesses are already using our convenient, reliable and high-speed infrastructure. There are currently nearly 90 Russian companies with direct market access, which has contributed significantly to MOEX liquidity growth," said Igor Marich, Managing Director of the Money and Derivatives Market at Moscow Exchange.
"X5 is the first retailer to gain access to MOEX’s FX Market. This is further proof of our commitment to leadership, innovation and efficiency," X5 CFO Svetlana Demyashkevich commented.
"We look forward to expanding our cooperation with the Moscow Exchange in the FX and Money Markets and will continue enhancing and streamlining our treasury and corporate finance functions," said Vladislav Dandurov, X5’s Acting Director of Treasury and Corporate Finance.
Currently some 90 Russian companies have direct access to the FX and Money Markets of the Moscow Exchange. In 8M 2018, they traded USD 4.8 bn and RUB 13.1 tn in currencies and deposits with the CCP, respectively. Trading on MOEX markets is now available to companies from a variety of sectors, including oil and gas, energy, mining, chemicals, finance and construction.
In January 2017, Russian businesses that are not credit institutions or professional securities market participants were allowed to transact in currencies on MOEX alongside banks and brokers. In July 2017, the Moscow Exchange opened up its Money Market to Russian corporates, enabling them to place deposits with the central counterparty at market repo rates.
More information on the FX transactions and deposits with the CCP is available on the Moscow Exchange website.