Moscow Exchange now has a new algorithm for submitting orders
The Moscow Stock Exchange continues to improve its service to attract as many market participants as possible. For this purpose, the site has introduced a new algorithm for submitting orders, which applies to the currency market. Thanks to the new service, exchange clients can now conduct transactions in large volumes of currency, while selecting the best value. The algorithm is available both to banks, brokers and companies, which are not engaged in financial activities, but have access to the market. Moreover, traditional bids also remain valid.
The TWAP algorithm is a service for automating market and limit orders. The program makes it possible to evenly distribute a certain amount of currency to the market at a time convenient for the client. The algorithm divides the specified amount of capital into the required number of orders. The latter in turn are automatically sent to the trading floor at a certain period of time.
The new program from Moscow Exchange works in two directions – basic spot and swap trading, as well as large transactions or SDBP.
Moscow Exchange offers the world’s largest platform for trading in rubles. Now you can work with currency pairs “ruble-dollar”, “yuan-ruble”, “euro-ruble” and others. On average, more than $18 billion is traded on the capital’s exchange per day.
The trading floor offers the use of various instruments and commodities, the most popular of which are bonds and stocks. Moscow Exchange includes several subdivisions, including a clearing center, which works as a central counterparty in the markets. Thanks to this division, the capital’s trading floor is able to provide a full range of trading and post-trading services.
The Moscow trading platform was founded in 2011 after two of Russia’s largest exchange groups merged their divisions. The merger resulted in a new vertically integrated platform, allowing clients to trade on all key asset classes.
Like many exchanges around the world, Moscow Exchange profits declined significantly in the second quarter of last year. However, already in the next quarter it grew by 2.7% and amounted to 5 billion rubles. Commission revenues rose by 30%.
Since November last year, Moscow Exchange has had a new system for calculating indices, which is responsible for pension savings. Its main objective is to increase the level of liquidity and make the segment more transparent. The changes touched upon the methodology of shares selection, as well as corporate bonds and Federal loan bonds placement. Besides, the innovations concerned the issue of debt securities.