Source: Moscow Stock Exchange
Otkritie Broker has become the first major retail broker to offer clients trading in precious metals on MOEX.
This is a convenient way for retail investors to invest in physical gold and silver and benefit from minimum costs and narrow buy-sell spreads.
Igor Marich, member of the Executive Board and Managing Director for Sales and Business Development at Moscow Exchange, said:
“Banks have long been major participants of the precious metals market, and gold miners joined the market last year. Demand for gold is growing as the number of retail investors rises. Until now, no major broker provided its clients with an opportunity to trade precious metals on the Exchange. We are pleased to see Otkritie Broker become the first such broker. We expect other large retail brokers will join the market, which will be an important growth catalyst for the market and a boost to liquidity.”
MOEX’s Precious Metals Market launched in October 2013. Gold and silver trades are cleared through the central counterparty (CCP NCC). Delivery is performed to clearing members’ unallocated metal accounts with CCP NCC. Trading volume year-to-date is RUB 42 bln (9.68 t of gold and 18.88 t of silver).