Moscow Stock Exchange prepares to list digital financial assets by end of year

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Russia’s largest stock, bond and derivatives market, the Moscow Stock Exchange, plans to launch a product based on digital financial assets by the end of the year, an executive has revealed. The trading platform already works with a partner to organize the placement of digital codes.

Russia’s top stock exchange seeks to facilitate trading of financial instruments based on digital assets

A high-level representative of the Moscow Stock Exchange (MOEX) noted in a recent interview that the production of a product based on digital financial assets (DFAs) is in the plans for 2022. The announcement comes after a turbulent period for Russia’s leading stock market when it had to deal with market volatility, sanctions pressures and cyber attacks earlier this year.

Besides “digital rights”, DFA is currently the main legal term in Russian law that applies to various digital assets, including cryptocurrencies according to some data of Russian officials, but primarily those with a specific issuer.

André Borilov, managing director of information technology and a board member of the Moscow Stock Exchange, told TASS news agency that MOEX is now working with one of its partners to achieve a project to develop digital codes. He noted that this is a company of real economy and explained:

The main point here is to link the company’s fixed assets to the investment market using digital technologies.

Borilov emphasized that the digitization of goods creates added value for market participants. MOEX aims to use DFAs in order to provide its customers with another investment tool that provides a fundamentally new way to ensure information security.

Burilov also noted that the main difficulty in terms of implementation is that this is a brand new product for the market, from organization to software. Another challenge was to integrate them into the Exchange’s existing systems and clients.

In early July, the chairman of the House of Representatives’ Financial Market Committee stated that the exchange of Russian digital assets would be best placed to process crypto transactions in the country. Anatoly Aksakov also suggested that a cryptocurrency trading platform could be created on the Moscow Stock Exchange.


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