MICEX FEES Currency exchange market with using of centralized clearing 2010.

Slides:



Advertisements
Similar presentations
MICEX Settlement House As Major Settlement Services Provider.
Advertisements

MICEX Settlement House as settlement services provider.
Caribbean Exchanges Network (CXN) Framework and Infrastructure Presented By: Marlon Yarde December 5, 2013.
ICAP – Supporting Russia and the Ruble ACI Russia General Assembly Moscow.
Update on Russian financial markets regulation: reflection of global changes in the local agenda and future proposals Sergey Romanchuk, Head Of FX&MM,
International Business Environments & Operations
The Basics of the Foreign Exchange Market. Defining The Foreign Exchange Market The Foreign Exchange Market can be defined in terms of specific functions,
How to Manage Foreign Exchange Volatility. Introduction Market Overview What Moves the Market? Risk Management Solutions Effective Tools Questions Agenda.
1 Central Counterparty Institution in the currency exchange market : current situation and development prospects.
Foreign Exchange Market Overview Convention and Terminology Mechanics and Operations Instruments ปริทรรศน์ เหลืองอุทัย, CFA, FRM 9 August 2006.
MICEX-RTS FX Market: New Time, New Instruments, New Liquidity EBRD, NFEA, ISDA Conference London, 14th March 2012.
May What’s new 2 Combined limit Combined collateral Combined positionCombined risk management  For the participants, launch of the new Risk Management.
MICEX FX market : current conditions and prospects Igor Marich, Vice-president, MICEX Ruble Forum 2009 Moscow, 10/11/2009.
Moscow, 10 Sep 2013"Derivatives in Russia 2013" NFEA-EBRD-ISDA Conference1 Recent trends in Russian Ruble derivatives Dmitry Piskulov, Ph.D. (econ.)
Financial energy futures. Future contract is a contract (liabilities of the parties) at a specified future date at a price and contract volume fixed at.
Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1 Lesson 38:  Foreign exchange markets  Basic structure  Spot and forward rates.
MICEX Group Derivatives Market Directing the Derivative Market Boom – Trends and New Projects Zhanna Smirnova MICEX Vice President.
Using BESP today Sergey Romanchuk, Head Of FX&MM SCB Metallinvestbank, President ACI Russia. 9 th Russian Ruble Settlement Forum, London,
Moscow, 15 Oct IRSF EBS-Moscow Exchange-NFEA1 Update of Ruble markets: rocketing off-shore Dmitry Piskulov, Ph.D. (econ.) Chairman of NFEA Board.
Moscow, 20 November 2014Moscow Conference1 Russian RUB FX spot & derivatives markets in 2014 Dmitry Piskulov, Ph.D. (econ.) Chairman of NFEA Board; Member.
London, 12 Apr 2011National Foreign Exchange Association, Russia Overview of RUB FX & MM & Derivative Market Recent Developments Dmitry Piskulov,
Russian Trading System Stock Exchange Opportunities of Derivatives market for foreign investors.
 Converting Currencies Assign Yourself: Data Collection due to Ms. Griffith’s by 11:59PM tonight, 10/9!
Russian Derivatives Market: expecting the breakthrough Rouble Derivatives in London Danny Corrigan Director, International Business Development MICEX 18.
National Clearing Centre National Clearing Centre 2008.
Moscow, 26 Nov 2010National Foreign Exchange Association, Russia1 Latest overview of RUB FX & MM & Derivative Markets Dmitry Piskulov, Ph.D. (Econ.) Member.
London 16Apr08National Foreign Exchange Association, Russia 1 NFEA view on RUB settlements for foreign banks Dmitry Piskulov, Ph.D. (Econ.) Chairman of.
Current status and development of MICEX currency market Sergey Savitsky., Vice-president of MICEX 2010 October.
Euro in the world and in Russia Olga Butorina Institute of Europe Russian Academy of Sciences Russian Academy of Sciences.
May , 2006 The Derivatives Market of the MICEX Group Alexander Balabushkin Deputy Head of Derivatives, MICEX.
NCC : Clearing House - Central Counterparty for MICEX-RTS Markets
WHATIS FOREX MARKET? WHATIS. WHAT IS FOREX?  Forex stands for foreign exchange. it’s also referred as FX or currency market. This is a place.
London, 14Apr10National Foreign Exchange Association, Russia 1 Overview of RUB markets in 2010 Dmitry Piskulov, Ph.D. (Econ.) Member of NFEA Management.
Moscow, 11Feb10National Foreign Exchange Association, Russia 1 RUB on global markets and in Russia in 2009 Dmitry Piskulov, Ph.D. (Econ.) Chairman of the.
Moscow, 23Nov09National Foreign Exchange Association, Russia 1 RUB on global markets & in Russia in 2009: crisis effect Dmitry Piskulov, Ph.D. (Econ.)
Building relationships in the post regulation environment │International Conference: EBRD, NFEA, ISDA │ Robin Poynder, Head of FX&MM, EMEA.
Payments in Russia: the background for revisal
MICEX SH & NDC – on the way to merge By: Sergey A. Sukhinin Chairman of the Board Executive, CEO MICEX Settlement House.
5-th IRSF, London, 28Apr09National Foreign Exchange Association, Russia 1 RUSSIAN ROUBLE INTERBANK MARKETS TODAY Dmitry Piskulov, Ph.D. (Econ.) Chairman.
New Service by NCC: Netting Based on UTS Clearing Results Moscow Moscow December 2009 CJSC JSCB National Clearing Centre.
Derivatives in Russia: some problems and opportunities. Sergey Romanchuk, Head Of FX&MM SCB Metallinvestbank, President ACI Russia. 6-th International.
Buying into market of corporate bonds denominated in Russian rubles Step-by-step guide Alexey A. Loginov Senior Consultant, Financial Engineering Department,
Moscow, 01 Nov 2011National Foreign Exchange Association, Russia1 Overview of RUB Domestic and Global Markets 2011 New trends Dmitry Piskulov, Ph.D. (econ.)
London, National Foreign Exchange Association, Russia1 Russian Rates derivatives volumes Dmitry Piskulov, Ph.D. (econ.) Chairman of NFEA Management.
6-th IRSF,Moscow,10Nov09National Foreign Exchange Association, Russia 1 RUSSIAN ROUBLE INTERBANK MARKETS IN 2009 Dmitry Piskulov, Ph.D. (Econ.) Chairman.
Polish Securities and Exchange Commission Jacek Socha CHAIRMAN OF THE POLISH SECURITIES AND EXCHANGE COMMISSION DEVELOPMENT OF THE REGULATED CAPITAL MARKET.
ICAP/EBS – Growth of the e-OTC Ruble Markets 7 th International Ruble Settlement Forum 14 April 2009.
November 1, 2009 KAZAKHSTAN STOCK EXCHANGE. KASE – Coeval of Tenge KASE was established on November 17, 1993 under the name of Kazakh Inter-bank Currency.
KAZAKHSTAN STOCK EXCHANGE (KASE) July 1, COEVAL OF TENGE … KASE was established on November 17, 1993 under the name of Kazakh Inter-bank Currency.
Additional commission fee (ACF) for excessive messages to system on the securities and FX markets.
V. Kulipanov5 IRSF, London, Apr 28, BESP payment system Recent developments and progress report Central Bank of Russian Federation 5 IRSF, London,
1 Sergey Shchepilov, 14 March 2012 NFEA Conference London, UK Russian FX/IR derivatives: pricing margining risks.
Unlocking the potential … CLS end of 2014? RTGS (IRSF) end of 2012? TODAY Become a recognised International Financial Centre Become a recognised G8 currency.
Chapter 03 Currency and Eurocurrency Derivatives Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
Part 4 World Financial Environment 9-1 Copyright © 2011 Pearson Education.
The FX Market Trading hours extended till 23:50.  The Moscow Exchange’s markets have different trading hours. This might limit trading opportunities.
Risk balancing (netting) between the derivatives and FX markets.
Operations to Manage Balances in the Treasury Single Account
GLOBAL EMPIRE TRADE
The Currency Market: Lecture 2
Exchange Rates.
Nguyen Thi Thanh Thuy Ewha 082BAG03
International Business Environments & Operations
FIN 440: International Finance
Currency Swap or FX Swapd Difinition and Pricing Guide
Rouble settlements for international banks
International Finance
MOSCOW EXCHANGE Client Access
KAZAKHSTAN STOCK EXCHANGE
Debt and Liquidity Analysis
Presentation transcript:

MICEX FEES Currency exchange market with using of centralized clearing 2010

The turnover fees paid on daily, inclusive of VAT Turnover (mln.) USD/RUB mln. $ EUR/RUB mln. евро EUR/USD mln. $ SWAP_U SD/RUB mln. $ SWAP_ EUR/ RUB mln. euro SWAP_ EUR/ USD mln. $ UAH/RUB, BYR/RUB, KZT/RUB, CNY/RUB Up to 10 inclusive0,00225 % Over 100,0015 % Rates for another instruments 0,0005 % 0,005 % The minimum daily fee charged to each participant of UTS performing clearing via the MICEX Clearing House : charged to each participant of UTS performing clearing via regional settlement centers: 600 rubles (inclusive VAT) USD/RUB 200 rubles (inclusive VAT) USD/RUB 600 rubles (inclusive VAT) EUR/RUB 200 rubles (inclusive VAT) EUR/RUB 600 rubles (inclusive VAT) EUR/USD 200 rubles (inclusive VAT) EUR/USD 500 rubles (inclusive VAT) CNY/RUB A fixed part of fee for the assignment of integrated technical services (ITS) paid monthly, inclusive of VAT For trader of participant of UTS who carried out authorization UTS trade system3000 rub. For trader of participant of UTS who applied for through a Reuters5000 rub. For trader of participant of UTS who carried out authorization UTS trade system and who applied for through a Reuters 5000 rub. MICEX Fees, Currencies exchange market The overall level of rates - 100%

MICEX Fees, Currencies exchange market Trading fee – 35% (paid for Manager of trade by Participants, the Function of Manager carried out by MICEX, inclusive VAT) The turnover fees paid on daily, inclusive of VAT Turnover (mln.) USD/RUB mln. $ EUR/RUB mln. eurp EUR/USD mln. $ SWAP_US D/RUB mln. $ SWAP_ EUR/ RUB mln. euro SWAP_ EUR/ USD mln. $ UAH/RUB, BYR/RUB, KZT/RUB, CNY/RUB to 10 inclusive 0, % Over 10 0, % Rates for another instruments 0, % 0, % The minimum daily fee charged to each participant of UTS performing clearing via the MICEX Clearing House : charged to each participant of UTS performing clearing via regional settlement centers: 210 rubles (inclusive VAT) USD/RUB70 rubles (inclusive VAT) USD/RUB 210 rubles (inclusive VAT) EUR/RUB70 rubles (inclusive VAT) EUR/RUB 210 rubles (inclusive VAT) EUR/USD70 rubles (inclusive VAT) EUR/USD 175 rubles (inclusive VAT) CNY/RUB

The Turnover fees paid on daily, inclusive of VAT Turnover (mln.) USD/RUB mln. $ EUR/RUB mln. euro EUR/USD mln. $ SWAP_USD/R UB mln. $ SWAP_ EUR/ RUB mln. euro SWAP_ EUR/ USD mln. $ UAH/RUB, BYR/RUB, KZT/RUB, CNY/RUB to 10 inclusive 0, % Over 10 0, % Rates for another instruments 0, % 0, % The minimum daily fee charged to each participant of UTS performing clearing via the MICEX Clearing House : charged to each participant of UTS performing clearing via regional settlement centers: 150 rubles (inclusive VAT) USD/RUB50 rubles (inclusive VAT) USD/RUB 150 rubles (inclusive VAT) EUR/RUB50 rubles (inclusive VAT) EUR/RUB 150 rubles (inclusive VAT) EUR/USD50 rubles (inclusive VAT) EUR/USD 125 rubles (inclusive VAT) CNY/RUB MICEX Fees, Currencies exchange market ITS (Integrated Technical Service) access fee – 25% (Paid by Participants of Trades to Technical Center, the Function carried out by MICEX, inclusive VAT) A fixed part of fee for the assignment of integrated technology services (ITS) paid monthly, inclusive of VAT For trader of participant of UTC who carried out authorization UTS trade system3000 rub. For trader of participant of UTS who applied for through a Reuters5000 rub. For trader of participant of UTC who carried out authorization UTS trade system And who applied for through a Reuters 5000 rub.

MICEX Fees, Currencies exchange market A Clearing fee – 40% (paid for Clearing Organization by Participants of Clearing, the Function carried out by NCC, inclusive VAT The turnover fee paid on daily, inclusive of VAT Turnover (mln.) USD/RUB mln. $ EUR/RUB mln. euro EUR/USD mln. $ SWAP_US D/RUB mln. $ SWAP_ EUR/ RUB mln. euro SWAP_ EUR/ USD mln. $ UAH/RUB, BYR/RUB, KZT/RUB, CNY/RUB to 10 inclusive 0, % Over 10 0, % Rates for another instruments 0, % 0, % The minimum daily fee charged to each participant of UTS performing clearing via the MICEX Clearing House : charged to each participant of UTS performing clearing via regional settlement centers: 240 rubles (inclusive VAT) USD/RUB80 rubles (inclusive VAT) USD/RUB 240 rubles (inclusive VAT) EUR/RUB80 rubles (inclusive VAT) EUR/RUB 240 rubles (inclusive VAT) EUR/USD80 rubles (inclusive VAT) EUR/USD 200 rubles (inclusive VAT) CNY/RUB