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Govt · Business · Markets
Russia’s financial market to start 3 hours earlier to attract traders from China
CKN
2021/02/18 12:56:24
5,185

Feb 18, 2021 (China Knowledge) - The Moscow Exchange is set to open currencies and derivatives trading 3 hours earlier from March, in the latest effort to drum up more demand from investors in China. The trading will run from 7 a.m to midnight Moscow time.

Over the past five years, trades involving Russian Ruble and Chinese RMB on the Moscow exchange have risen by 27% but are still dwarfed by USD trades. “Growing Renminbi volumes traded against the Ruble has been a long-term objective of both Russia and China,” said Igor Marich, managing director at the Moscow Exchange.

Marich hopes that the extension of trading hours will be beneficial for both countries’ investors in hopes to see more Chinese investors trading FX and other asset classes on the Moscow Exchange.

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