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Gazprom Neft runs the first “M-Deposits” auction on the Moscow Exchange

The first auction for the placement of financial assets in Gazprom Neft PJSC — “M — Deposits” — has taken part on the Money Market section of the Moscow Exchange.

Such money-market operations allow banks to openly compete against each other on rates in real time, with companies choosing the best proposals (bearing in mind the risk profiles of counterparty banks, and the level of risk acceptable to them) online.

“M—Deposits” form a specific part of the money market on the Moscow Exchange, offering an opportunity for the placement of funds on deposit and the conclusion of deposit-taking transactions on a competitive or “auction” basis. The Exchange provides auction organisers and lending institutions (seeking to attract funds on deposit) with a universal platform for effective liquidity management and the conclusion of deposit-taking transactions.

The total volume of deposit and credit operations on the Moscow Exchange in the first six months of 2016 totals RUB17 trillion, an increase of 25 percent year-on-year.