Rouble Fixing Rate Procedures Altered Following Market Manipulation Claims
EXCHANGES
MOSCOW--The Emerging Markets Traders Association (EMTA) and the Chicago Mercantile Exchange (CME) have adjusted the way in which they determine their joint Russian rouble/US dollar reference rate.
The change follows allegations of manipulation in the Russian currency market by traders in Moscow.
The two organizations began jointly offering the rate on August 28, following the suspension of spot dollar auctions at the Moscow Interbank Currency Exchange (Micex).
The rate is determined by a survey of
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