RUSSIA: MOEX Increases Stake in e-FX Trading Platform

Friday October 29 2021

On 28^th October 2021, Moscow Exchange (MOEX) announced that it has completed the acquisition of a 65.5% stake in Bierbaum Pro AG which is 100% owner of NT Progress, the developer and owner of OTC FX trading platform NTPro. The transaction increased Moscow Exchange’s ownership in Bierbaum Pro AG from 29.5% to 95%.

The platform offers solutions for liquidity aggregation, matching and algo execution across a wide range of FX instruments, as well as services to connect to more than 60 currency liquidity providers. In 2021, NTPro’s average daily turnover was approximately USD 7.5 billion.

The partnership between MOEX and NT Progress will expand both companies’ service offering and allow the two parties to offer clients NTPro’s highly flexible advanced FX trading solutions alongside MOEX’s clearing and settlement facilities.

Moscow Exchange plans to offer clearing of OTC trades with pre-clearing collateral check by NCC to NTPro clients in December 2021, In the future, this service will be made available to participants of other electronic platforms as well.

Moscow Exchange expects to further develop the NTPro platform in close cooperation with the current team.

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