Topic: [2017-08-30] Moscow Stock Exchange Prepares to Trade Cryptocurrency (Read 2250 times)

Moscow Stock Exchange is creating an infrastructure to trade cryptocurrencies such as bitcoin. The exchange plans to trade cryptocurrencies as well as derivatives and exchange-traded funds (ETFs) based on them. This announcement closely follows the plan by Deputy Finance Minister Alexei Moiseev to regulate bitcoin as a financial asset.

Moscow Exchange Embraces Cryptocurrency

Moscow Stock Exchange is reportedly working on creating an infrastructure for cryptocurrency trading, the Russian state-owned news agency Tass was told at a press conference held by the exchange. The exchange was quoted saying:

        "We are already working on creating an infrastructure for such [cryptocurrency] trades, in particular, a platform for post-trading services for crypto assets."

Moscow Exchange is the largest exchange group in Russia. It operates trading markets in equities, bonds, derivatives, the foreign exchange market, money markets and precious metals. It also operates Russia’s central securities depository and the country’s largest clearing service provider.

Currently, the exchange is in talks with regulators to clarify all legal issues related to how it can trade cryptocurrencies on the Russian exchange market and to protect the interest of their purchasers, the press conference revealed.

Trading Instruments to Be Offered

Moscow Stock Exchange’s cryptocurrency platform will offer a number of trading instruments including derivatives and ETFs based on cryptocurrencies, as well as cryptocurrencies themselves, detailed Russian business publication BFM. The exchange stated:

        "We are ready to organize trading in financial products for which there is a demand from bidders and their clients and which provide sufficient legal protection…On the stock exchange, it is possible to trade both the cryptocurrencies themselves and derivatives on them, as well as trading stock exchange funds on cryptocurrencies."

A second traditional stock exchange in Russia is also reportedly considering adding cryptocurrency trading to its platform, according to Tass. St. Petersburg Stock Exchange is the third-most active stock exchange in Russia by volume, and the largest outside of Moscow.

>>> https://news.bitcoin.com/moscow-stock-exchange-trade-cryptocurrency/