National Foreign Exchange Association

The National Foreign Exchange Association is a non-commercial association of commercial banks, currency exchanges, brokerage firms, and others dedicated to the development and improvement of a high standard foreign exchange market and money market in Russia. Founded in Moscow in 1999, the association had 74 members as of 2005.[1] Among other activities, the National Foreign Exchange Association coordinates with the Bank of Russia in daily setting the Russian Overnight Index Average (Ruonia), which operates similarly to the European Eonia.[2][3]

References

  1. ↑ Official website of National Foreign Exchange Association (NFEA)
  2. ↑ O'Brien, Emma; Denis Maternovsky (9 September 2010). "Bank Rossii Spurs Swap Trades as Ruonia Lures Deutsche Bank: Russia Credit". Bloomberg. Retrieved 19 September 2010.
  3. ↑ "RUONIA - Ruble OverNight Index Average". Archived from the original on 23 November 2011. Retrieved 29 September 2010.


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