Moscow Exchange launches new transactional interface for FX markets
Moscow Exchange, or Moskovskaya Birzha MMVB-RTS PAO (MCX:MOEX), today announced the launch of a new transactional interface for MOEX Securities and FX markets.
The new service, called FIFO MFIX Trade, aims to be the fastest transactional interface for MOEX Securities and FX markets, providing First in – First out messages ordering on gateway with probability over 99%. This markedly increases the transparency and predictability of the operations of the tech infrastructure of the Exchange.
The service will be available exclusively in MOEX Co-location. Banks, brokers, algo traders and HFT traders can make use of the new service. More than 20 companies are already making use of the new interface.
At present, high frequency trading accounts for approximately 50% of the volume of trading in shares, derivatives and FX on MOEX.
Speaking of enhancing the trading conditions and offering for FX traders on MOEX, let’s note that, in August 2020, the Exchange unveiled plans to introduce morning Forex trading. When these sessions go live, MOEX will have trading hours on its FX and Derivatives Markets of nearly 17 hours per day. Currently, FX and derivatives trading lasts about 14 hours, from 10:00 am until 11:50 pm MSK.
The precise date for the launch of morning FX trading is not yet known. It is expected that this will happen in the first quarter of 2021.