{"id":4181,"date":"2020-06-08T13:24:54","date_gmt":"2020-06-08T13:24:54","guid":{"rendered":"https:\/\/www.futuresandoptions.gr\/en\/?p=4181"},"modified":"2020-06-08T13:24:55","modified_gmt":"2020-06-08T13:24:55","slug":"bank-of-russia-proposes-new-approaches-to-market-making-regulation","status":"publish","type":"post","link":"https:\/\/www.futuresandoptions.gr\/en\/bank-of-russia-proposes-new-approaches-to-market-making-regulation\/","title":{"rendered":"Bank of Russia proposes new approaches to market-making regulation"},"content":{"rendered":"\n

The\u00a0innovations proposed by\u00a0the\u00a0Bank of\u00a0Russia<\/a> are\u00a0aiming to\u00a0mitigate the\u00a0risks of\u00a0market manipulations that may\u00a0be\u00a0committed under the\u00a0guise of\u00a0maintaining exchange trading parameters. The\u00a0relevant\u00a0draft<\/a>\u00a0ordinance is\u00a0available on\u00a0the\u00a0Bank of\u00a0Russia\u2019s website.<\/p>\n\n\n\n

Market making is\u00a0a\u00a0tool to\u00a0provide liquidity to\u00a0the\u00a0financial market. It\u00a0implies that bidders and\u00a0offerers (market makers) maintain prices, demand, supply, and\u00a0trading volumes based on\u00a0agreements with exchanges by\u00a0using particular financial instruments, currency, or\u00a0commodities. However, over the\u00a0course of\u00a0its\u00a0inspections, the\u00a0Bank of\u00a0Russia<\/a> established cases where brokers\u2019 clients had\u00a0been actually manipulating the\u00a0market posing it\u00a0as\u00a0market making.<\/p>\n\n\n\n

The draft ordinance specifies which transactions are essentially classified as maintenance of exchange trading parameters. The new approach is also intended to limit the range of clients on whose behalf market-making transactions may be conducted. Specifically, individuals will be obliged to meet the requirements stipulated by the exchange.<\/p>\n\n\n\n

According to the draft ordinance, market makers should only be able to fuflill their obligations based on \u2018passive\u2019 bids and offers, that is, such bids and offers that result in actual transactions provided that a market order of the opposite direction is issued afterwards.<\/p>\n\n\n\n

Exchanges should verify market-making orders for consistency on a daily basis, including for marks indicating that they have been issued as part of a market maker\u2019s obligations.<\/p>\n\n\n\n

The innovations are expected to become effective in April 2021.<\/p>\n\n\n\n

You are welcome to send your feedback on this draft ordinance to the Bank of Russia until 26 June 2020. After scrutinising all comments and suggestions, the Bank of Russia is going to carry out additional discussions of the draft ordinance with the market community.<\/p>\n","protected":false},"excerpt":{"rendered":"

The innovations proposed by the Bank of Russia are aiming to mitigate the risks of market manipulations that may be committed under the guise of maintaining exchange trading parameters. The relevant draft ordinance is available on the Bank of Russia\u2019s website.<\/p>\n","protected":false},"author":6,"featured_media":4183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[226,14],"tags":[1099,1100],"class_list":["post-4181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-financial-news","tag-bank-of-russia","tag-innovations"],"yoast_head":"\nBank of Russia proposes new approaches to market-making regulation - Futures and Options<\/title>\n<meta name=\"description\" content=\"The innovations proposed by the Bank of Russia are aiming to mitigate the risks of market manipulations that may be committed under the guise.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.futuresandoptions.gr\/en\/bank-of-russia-proposes-new-approaches-to-market-making-regulation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of Russia proposes new approaches to market-making regulation - 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