The Moscow Exchange Prepares to List Digital Financial Assets
An executive has revealed that Russia's
largest market for equities, bonds, and derivatives, the Moscow Exchange,
intends to launch a product based on digital financial assets by the end of the
year. The trading platform is already working with a partner to organize the
placement of digital tokens.
Trading of Financial Instruments Based on Digital Assets
An official of the Moscow Exchange (MOEX) has
indicated in a recent interview that they will be releasing a product based on
digital financial assets (DFAs) in the current year. The announcement comes
after a turbulent period for Russia’s leading stock market when it had to deal
with market volatility, sanctions pressure, and cyber-attacks.
According to the statements of Russian
officials, DFAs are currently the main legal term in Russian law that applies
to various digital assets, including cryptocurrencies, but primarily those that
have a specific issuer.
The MOEX is now working with one of its
partners to realize a project to place digital tokens, the Managing Director
for Information Technology and Member of the Board of the Moscow Exchange,
Andrey Burilov, told the Tass news agency. He noted that this is a company from
the real economy and said,
"The main point here is to link the
company’s fixed assets with the investment market using digital
technologies."
Digitizing commodities creates added value
for market participants, Burilov emphasized. MOEX aims to utilize DFAs to offer
its customers another investment tool that offers a fundamentally new way to
ensure information security.
Burilov also remarked that the main
difficulty in terms of implementation is that this is a completely new product
for the market, from regulation to software. Another challenge is its integration
into the existing systems of the exchange and its clients, he remarked.
The Head of the Financial Market Committee at
the Lower House of Parliament stated in July that a Russian digital asset
exchange would be in the best position to process crypto transactions in the
country. Anatoly Aksakov also suggested that the crypto trading platform may be
established on the Moscow Exchange.
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