By Maria Levitov Bloomberg News Friday, October 11, 2013
OAO Moscow Exchange will introduce trading of gold and silver as early as this month as part of plans to make metals more accessible to smaller banks by reducing transaction costs.
The exchange will quote gold and silver in Russian rubles per gram, with minimum trades starting at 10 grams of gold and 100 grams of silver, the bourse's deputy chief executive officer, Andrey Shemetov, said in an e-mailed response to questions yesterday. Platinum and palladium contracts will start trading in the first half of 2014, he said. ...
The exchange will quote prices and enable traders to settle contracts via delivery to and from unallocated metals accounts at its National Clearing Center. Banks can deposit or withdraw precious metals in the form of physical bullion bars, and delivery and collection will occur at a nominated Moscow vault, the bourse said.
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http://www.bloomberg.com/news/2013-10-10/moscow-exchange-plans-gold-to-s...
