July 06, 2016 BY Mike Fox

CME set to replace Ruble reference rate to Moscow Exchange

CME Group (CME) is set to use the official Moscow Exchange (MOEX) reference rate for Russian ruble contracts come Sunday July 17th. Since 1998 after spot auction currency trading at the Moscow Interbank Currency Exchange (MICEX) was suspended, the Chicago Mercantile Exchange and EMTA (Emerging Market Traders Association) began publishing a Ruble/Dollar exchange rate. CME and EMTA established…

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