From 2 September, an asymmetric maker/taker fee structure will apply to USD/RUB trading with same day settlement and a speed bump mechanism (USDRUB_TDB instrument). This move is in line with recommendations from the Moscow Exchange FX Market Committee.
Market takers will be charged no trading fee. Market makers will pay $16 per one million of currency.
To add flexibility in USDRUB_TDB trading, the lot size will be set at USD 1,000, with the minimum order size remained unchanged at USD 1,000,000. Therefore, trades can be for any amount exceeding USD 1,000,000 executed with one ticket.
To stimulate on-exchange FX liquidity, advance the matching techniques and evaluate their impact on market liquidity, the experimental USD/RUB order book was launched in April 2019. The minimum lot size is USD 1 million. The simulated random delay is applied at order entry to eliminate arbitrage between technical access of different trading members. ‘Cancel’ transactions will not be delayed. For details, please visit Moscow Exchange’s website.
