Deutsche Börse and Moscow Exchange have agreed on a strategic partnership and exchange of information to encourage further development of the financial markets.
The exchange organisations signed a letter of intent in the presence of Russia’s president, Vladimir Putin, and Germany’s chancellor, Angela Merkel.
The letter of intent explains that the two exchanges are to “support each other in the further development of their markets in terms of volume, liquidity and global reach of issuers, intermediaries and investors,” said a recent statement.
Deutsche Börse and Moscow Exchange have also agreed to cooperate on exchange infrastructure, product development, IT and rules and regulations regarding trading, clearing settlement and custody, collateral management, market data and indices. The partnership also plans to extend the connection between the financial centers of Moscow and Frankfurt.
Reto Francioni, CEO of Deutsche Börse, said: “Already a couple of years ago Deutsche Börse started a close co-operation with Moscow Exchange. Both exchange groups are joined by a common understanding how to further develop equities and derivatives trading as well as clearing and settlement. The deepening of our relationship agreed today is a logic and welcomed step and is also part of our growth strategy.”
Alexander Afanasiev, CEO of Moscow Exchange, said: "This agreement will give a further impetus to Moscow Exchange international development. Deutsche Börse is a trusted partner and we look forward to working together to apply best international practices and to exchange experience."
“The peer-to-peer partnership between Moscow Exchange and Deutsche Börse will deepen Russia’s integration into the global financial system, create favorable terms for foreign investors to access the Russian market, strengthen our economy and aid in the creation of an international financial center in Moscow."
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