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Moscow Exchange to Woo Asian Investors with Early Trading

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MOSCOW, Feb 26 Reuters The Moscow Exchange aims to attract Asian investors with extended trading hours, while also betting on an increase in retail clients and corporate listings, an official at Russias largest bourse told Reuters in an interview.

The Moscow Exchange will start trading foreign currency, gold and derivatives three hours earlier from March 1, opening at 0400 GMT and extending its trading day to 17 hours to cover more time zones and boost liquidity.

We aim at investors from Southeast Asia, primarily from India, Singapore, Hong Kong, where there is demand for rouble instruments, said Igor Marich, MOEXs managing director for sales and business development.

We also count on an increase in trading volumes with the yuan amid growing trade volumes between our country and China and a global interest in this currency, Marich said.

The bourse will limit the dispersion of market orders during thin earlyhour trade to ensure market stability and avoid trading mistakes, Marich said.

When asked if the central bank, which carries out daily FX operations for the Russian budget, will also take part in early trade, Marich said morning trading was open for all participants.

RETAIL INVESTORS

The Moscow Exchange, in which the central bank owns a 17.8 stake, saw its business boom in 2020 when nearly five million people turned to trading amid coronavirus lockdowns and recordlow interest rates.

Russia slashed rates to record lows in mid2020 to make lending cheaper and…

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