Market Profile

Bank of Russia deposit and credit operations on MICEX consist of deposit and credit transactions made by the Bank of Russia with credit organizations – residents of the Russian Federation – through the ZAO MICEX Electronic Trading System.

For Bank of Russia deposit operations, MICEX provides credit organizations with the opportunity to make deposit transactions, that is, placing funds with the Bank of Russia at an interest rate established by the Bank of Russia. For Bank of Russia credit operations, or collateral credit operations, MICEX provides credit organizations with the opportunity to obtain credit from the Bank of Russia on the security of their own securities (or against blocking of those securities.)

The Bank of Russia deposit market was launched on MICEX in March 2004, when the Bank of Russia began to perform regular deposit operations using the ZAO MICEX Electronic Trading System, both on an auction basis and at fixed interest rates.

To further develop MICEX’s money market, the list of Bank of Russia deposit operations was extended in October 2006 to include on-demand deposits; Bank of Russia credit operations (collateral credit) were also introduced on MICEX.

Detailed information on Bank of Russia deposit and credit operations can be found in the Instruments section.

The Bank of Russia deposit operations market on MICEX is still growing rapidly.