Russia plans to upgrade its financial markets in 2011, launching unified clearing system and a bourse for big forex and debt players, opening up OFZ treasury bond trading to more investors and offering simpler repo deals.
“The major project for the next year is a creation of the treasury bourse,” Central Bank board member Sergei Shvetsov told a repo forum on Tuesday.
Shvetsov said the new bourse will be formed by consolidating existing markets and will feature a common clearing system for forex and bond trading, as well as for repo and deposit operations and the Central Bank’s loan auctions.
“It is a separate segment of the infrastructure, which provides services for treasuries of the major banks without the presence of Internet brokers that service individuals,” Shvetsov said.
(Reuters)
