Deutsche Bourse and Moscow Exchange sign co-operative pact
19 November 2012 | 1356 views | 0
Source: Deutsche Bourse
Deutsche Börse: Today Deutsche Börse and Moscow Exchange signed a Letter of Intent (LoI) in the presence of Russian President Vladimir Putin and German Chancellor Angela Merkel.
The exchange organizations agreed on a strategic co-operation and an extensive exchange of information in order to facilitate the further development of the financial markets. Furthermore the co-operation intends to foster and extend the links between the financial centers Moscow and Frankfurt.
The two partners plan to cooperate on exchange infrastructure, product development, IT and rules and regulations regarding trading, clearing, settlement & custody, collateral management as well as market data and indices.
In accordance with the LoI, the two exchanges are above that to support each other in the further development of their markets in terms of volumes, liquidity and global reach of issuers, intermediaries and investors.
"Already a couple of years ago Deutsche Börse started a close co-operation with Moscow Exchange. Both exchange groups are joined by a common understanding how to further develop equities and derivatives trading as well as clearing and settlement. The deepening of our relationship agreed today is a logic and welcomed step and is also part of our growth strategy," said Reto Francioni, CEO of Deutsche Börse.
"This agreement will give a further impetus to Moscow Exchange international development. Deutsche Börse is a trusted partner and we look forward to working together to apply best international practices and to exchange experience. The peer-to-peer partnership between Moscow Exchange and Deutsche Börse will deepen Russia's integration into the global financial system, create favorable terms for foreign investors to access the Russian market, strengthen our economy and aid in the creation of an international financial center in Moscow", said Alexander Afanasiev, CEO of Moscow Exchange.