YEREVAN, June 8. /ARKA/. The Moscow Exchange plans to launch trading in Armenian drams, Uzbek sums and Emirati dirham in the coming months, director of the Exchange’s currency market department Andrey Skabelin told RIA Novosti.
“We see interest in these currencies and understand that they will have no liquidity problems. Once a number of technical issues are resolved, we will launch trading in these pairs,” he said.
He added that from an infrastructural point of view, the National Clearing Center, acting as a central counterparty in the currency market, should open accounts with correspondent banks for the currency, find suppliers of instant liquidity and sign appropriate interbank contracts to start trading in a partial collateral mode.
He added that it is equally important to ensure the availability of market makers to maintain quotations. “When all these conditions are met we will provide participants with a new instrument,” Skabelin summarized.
At the moment, the Moscow Exchange has trading in currency pairs with the U.S. dollar, euro, Chinese Yuan, British pound, Swiss franc, Hong Kong dollar, Belarusian ruble, Turkish lira, Japanese yen and Kazakh tenge. –0—
