A March 5th outage on Moscow Exchange's FX market was caused by a malfunction in the operation of gateways used to access the market"s trading system. Specifically, a transaction that balanced risk between the Exchange"s Derivatives and FX markets was executed with an error.
Trading on Moscow Exchange's other markets, including the Derivatives market, was not affected.
The Risk Balancing Service is a service operating between Derivatives and FX markets that allows market participants to reduce margin requirements for offsetting derivatives and FX positions through currency risk netting.
The service will stay turned off until the root cause of the incident is identified. We will announce resumption of the service in due course.
