December 3, 2018 / 4:15 PM / 8 months ago

Moscow Exchange launches dollar vs. yuan, yen vs. rouble trading

FILE PHOTO: The Moscow Exchange logo in Moscow, Russia March 13, 2018. REUTERS/Maxim Shemetov/File Photo

MOSCOW (Reuters) - The Moscow Exchange (MOEX.MM) has launched five new currency trading options to boost liquidity on its currency market, the bourse said on Monday.

The Moscow Exchange said it had started quoting the Japanese yen against the Russian rouble, and was now offering trading between the U.S. dollar and the Swiss franc, the Chinese yuan, Kazakh tenge and Turkish lira.

The exchange hopes to develop its infrastructure as part of a Kremlin-backed drive to make Moscow one of the world’s leading financial hubs.

“The expansion of the product line gives market participants extra capabilities to diversify currency transactions and would contribute to higher liquidity of the currency exchange market,” MOEX said in a press release.

The move to launch more trading options was designed to mirror the global foreign-exchange market and thus attract more clients, the exchange said earlier this year.

Reporting by Andrey Ostroukh; Editing by Tom Balmforth/Mark Heinrich

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