Russian Ruble (RUB) is an increasingly popular currency with Russian economy growing and attracting more investors/speculators. Local forex brokerage market is one of world’s largest being home to more than 50 forex brokers who too drive the interest in this currency’s trading as well. RUB liquidity has been a major issue for many brokers worldwide as there was a lack of sufficiently stable and reliable liquidity, now Integral brings a solution to this issue.
MOSCOW and SUNNYVALE, Calif. (June 13, 2012) — Integral Development Corp., (www.integral.com), a leading provider of FX trading solutions and services, and MICEX-RTS, a leading Russian exchange, announced today that its customers can now access MICEX Ruble liquidity via FX Cloud™.
Participants on Integral’s FX Grid®, a global inter-institutional connectivity and trading network, linking ECNs and market making banks to FX market participants, can immediately access all currency pairs and tenors available from MICEX with no need to build an adapter or wait for a leased line to be put in place. Integral’s customers on FX Grid will benefit from this seamless integration by gaining access to one of the fastest growing emerging markets in FX.
“Russia is becoming more and more important to FX market participants around the world and MICEX-RTS is at the center of this rise,” said Harpal Sandhu, CEO, Integral Development Corp.
“Our connection to MICEX-RTS is an important milestone in our quest to provide Full Market Access to our customers. Like all of our services, it is a service delivered in the cloud. Participants on FX Grid simply sign up for it and are instantly connected to this leading exchange in Russia.”
“We are excited that our clients have gained additional business opportunities through this connection to the FX market” said Igor Marich, Head of FX & Money Market, Managing Director at MICEX-RTS. “The Exchange continues to make significant efforts, together with our market participants, to attract new clients by offering them easy access to all instruments and liquidity of our FX market through MICEX-RTS members. We strongly believe, that Integral facilitating access to the FX market on MICEX-RTS Exchange, will greatly contribute to the further development of the market.”
The MICEX-RTS Group is the Russia’s integrated exchange business based on the comprehensive trading and settlement infrastructure that provides a wide range of opportunities to Russian and foreign investors for equities, bonds, currencies as well as derivatives trading. OJSC MICEX-RTS and CJSC MICEX Stock Exchange act as trading organizers within the Group. National Settlement Depository, CJSC Depository Clearing Company and RTS Settlement Chamber provide settlement and depository services. CJSC RTS Clearing Center and CJSC National Clearing Center render clearing services.
FX and Money market of MICEX-RTS includes FX spot and swap transactions, REPO trades, deposits of the Bank of Russia, lombard credits, deposit auctions of the Bank for Development and Foreign Economic Affairs. The electronic trading system of the FX market supports trading in the US dollar, euro, Ukrainian hryvnia, Kazakhstan tenge, Belarusian ruble, Chinese yuan, dual currency basket and currency swaps with a tenor up to 6 months. All trades are executed with the CCP (National Clearing Center). In 2011 the total FX market transactions volume made up RUB 87 trillion or USD 2.9 trillion. The ADTV made USD 14 billion in 2012, which exceeded 40% 2011 same period ADTV, Over 600 credit organizations, both Russian ones and bank subsidiaries of foreign companies are market participants of the MICEX-RTS currency market. Direct market access is provided also to the Market participants’ clients: banks, investment companies, private investors and non-residents.