Market transaction data proposal targets unequal access
Market participants would gain access to anonymized transaction data under a Bank of Russia disclosure proposal. The regulator seeks feedback on useful information, access formats and delivery channels through December 1, 2026.
Opening supervised transaction records
The Bank of Russia is considering publishing anonymized market transaction data drawn from reports submitted by supervised organizations.
Its Concept for Market Data Publication invites market participants to identify useful information and their preferred formats and access channels.
The regulator says publishing up-to-date information would give all participants equal access and support the creation of analytical products.
Confidentiality would remain a condition of disclosure.
The central bank notes that it may use special tagging to identify related transactions.
Following discussions, it may develop uniform approaches and broaden the information disclosed.
Fragmented markets, uneven information
The proposal responds to information asymmetries in existing market data.
Some exchange transaction information appears only in aggregated form, while some is available for a fee.
Data on over-the-counter transactions lack transparency and remain fragmented.
The Bank of Russia already publishes information on over-the-counter ruble-denominated interest rate swaps.
That existing disclosure provides a starting point for discussions about expanding the scope of published market information.
The scope remains open
Equal access and confidentiality are the proposal's stated objectives.
The information covered and its delivery formats remain subjects for discussion with market participants.
Any expansion of disclosure remains conditional on those discussions.