MICEX unites currency trades

The uniting of currency trades at the UTS and a morning session on SELT of the Moscow Interbank Currency Exchange will start on May 31, 2004, the press service of the exchange reported. Within the framework of the new UTS, market liquidity will consolidate and the level of security of the trade system, which unites the advantages of collective and individual risk management systems, will increase.

The new system will be based on the UTS principles. All participants will receive access to the liquid currency market, where the ruble/dollar instrument on today deals will be traded on MICEX from 10 a.m. Moscow time to 2 p.m. Moscow time and to 11 a.m. on regional currency exchanges. The ruble/dollar instrument on tomorrow deals will be traded from 10 a.m. to 4:45 p.m. Moscow time on all currency exchanges.