RUSSIA: MOEX Starts Trading First ETF in Yuan

Monday January 16 2023

On 16^th January 2023, Moscow Exchange (MOEX) began trading in Russia’s first exchange-traded mutual investment fund (BPIF) with settlements in Chinese yuan “First – Savings Fund in yuan” managed by “Pervaya” Management Company. The trade code is SBCN.

The new exchange-traded fund provides investors with an additional opportunity to diversify portfolios and invest in Chinese currency.

The fund invests in money market instruments denominated in yuan and bonds of Russian companies denominated in yuan. As new issues of such bonds appear on the Russian market, they will be included in the fund’s portfolio, subject to compliance with its requirements.

The fund’s benchmark is the RUSFAR CNY (Russian Secured Funding Average Rate CNY) indicator of the value of secured money in yuan, calculated by the Moscow Exchange on the basis of repo transactions with a central counterparty with clearing participation certificates settled in yuan.

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