Our progress / Hot Topics

Trading infrastructure


Back to Media

Moscow Exchange Likely to Introduce T+N This Year

02.10.2012 12:52 / Interfax

Moscow Exchange MICEX-RTS is likely to introduce T+N settlement by the end of the year, said Head of Exchange Alexander Afanasiev.

"Technically we will be ready to launch T+N settlement by the end of the year, however T+0 will not terminate this year. We want markt participants to get ready", he said.

According to him, T+N and T+0 trading will run parallel for a few months, with final timeframes currently in discussion with market participants.

He noted that the choice between T+3 and T+2 settlement has not been made yet.

Alexander Afanasiev also stated that different trading participants need different settlement. T+2 is more suitable for banks, since these trades are not considered forward transactions and are easier to account for. T+2 settlement is also better suited for curency trading.

On the other hand, cross-border "arbitrators" are more interested in T+3, as in London.

Afanasyev also said that by the time of the exchange IPO, two OpenBooks with various calculation types will be active.

Trading infrastructureProject Group №1