The national Bank of Ukraine (NBU) has simplified the conditions of trade in foreign currency, including for carrying out arbitrage operations on terms of margin trading. This is stated in the message NBU.
“We are talking about arbitrage, involving buying/selling of foreign currency for foreign currency, i.e. without the use of the hryvnia,” – said the regulator.
Banks will be able to carry out arbitrage transactions, not only with foreign banks, as before, but also with foreign non-Bank financial institutions that have the right to carry out trading in foreign currency, and will be able to enter into agreements to conduct arbitrage transactions with other authorized banks, which had already established relations with foreign partners.
Banks will be able to carry out such operations on behalf of legal entities and physical persons-entrepreneurs, while previously it was possible to implement them only on behalf of clients-natural persons. Also, banks will be able to carry out arbitration operations with the new tool – precious metals.
Also cancelled the requirement of registration of banks with the NBU the rules of arbitration of transactions and the appropriate procedure, under which carried out such registration.
With regard to measures aimed at simplifying the conditions for foreign currency trade, among other things, they will allow the international financial institutions (IFIs) to buy or sell any currency from any Bank in Ukraine by choice, and not only in the institution where the account is opened the respective organization.
In addition, abolished the rule that the purchase of foreign currency of the 1st group of the Classifier to perform the debt obligations of the borrower on the loan is allowed only under the condition that credit score the lender is actually also transferred foreign currency of the 1st group of the Classifier.
The requirement of registration of the banks customer operations on purchase and sale of foreign currency “forward” in the System of confirmation of agreements on the interbank currency market.
“These measures will contribute to the empowerment of authorized banks to conduct arbitrage operations and to expand the range of customers that will be able to carry out such operations and also will contribute to the facilitation of the execution of transactions in foreign exchange or banking metals. In addition, MFIs will have the opportunity to choose the best course for the purchase or sale of foreign currency for such operations through the Ukrainian banks”, – said in
Corresponding changes are fixed by the NBU №143 from 26th of December and come into force on 2 January 2018.