OREANDA-NEWS. PhosAgro has been granted direct access to Moscow Exchange’s FX Market. An agreement granting direct market access was signed by Andrey Guryev, CEO of PhosAgro, and Alexander Afanasiev, CEO of Moscow Exchange, on 2 June 2017 at the St. Petersburg International Economic Forum (SPIEF).

Andrey Guryev, CEO of PhosAgro, said: “We use all available tools to enhance the company’s efficiency; direct access to FX trading will help drive down currency conversion costs, benefitting us as an exporter. The company can make FX transactions both for itself and on behalf of its subsidiaries.” 

Alexander Afanasiev, CEO of Moscow Exchange, said: “We are delighted to welcome a new trading participant with a dominant position in a key industry of the Russian economy to our FX Market. Clear pricing, market liquidity and settlement guarantees are the main benefits of the regulated FX Market. There is no need to manage risks and set limits on counterparties. All market participants will surely benefit from the additional liquidity the new participant will bring.”