Moscow Exchange establishes taskforce to promote alogrithmic trading
28 February 2014 | 1322 views | 0
Source: Moscow Exchange
At a meeting held 26 February the Exchange Council, a consultative and advisory body of Moscow Exchange, approved the Exchange"s priority projects for 2014 and took the decision to create a working group to promote algorithmic trading in Russia.
The Exchange Council recommended that Moscow Exchange"s Supervisory Board this year prioritise developing a unified collateral and margining system for the Exchange"s markets and create a single trading and clearing platform for all markets.
It also decided to establish a taskforce to promote algorithmic trading on the Exchange, comprising representatives of the Exchange and brokerage firms as well as algorithmic trading specialists. Sergey Romanchuk, Head of Metallinvestbank"s Dealing Centre, is to lead the taskforce.
The Exchange Council also recommended that Moscow Exchange"s Eхecutive Board make adjustments to tariffs on the Securities Market, specifically to cancel rebates for intrabroker trades which are booked as a part of a broker"s obligations as a market maker.