STATEMENT OF MOSCOW EXCHANGE ON RESPECT FOR HUMAN RIGHTS AND COUNTERACTING MODERN SLAVERY
Introduction
Moscow Exchange recognizes that slavery remains a problem in the modern world. In support of initiatives to stop modern slavery, including the UK’s Modern Slavery Act 2015, Moscow Exchange issues this statement setting out the actions it has taken to prevent any form of modern slavery within Moscow Exchange Group and its supply chains.
This statement also aims to confirm Moscow Exchange’s position that its business partners must not commit any abuses of human rights in their activities.
Moscow Exchange strives to comply with the UN’s Guiding Principles on Business and Human Rights.
The business of Moscow Exchange
Moscow Exchange operates the only comprehensive exchange platform in Russia for trading equities, bonds, derivatives, currency, money market instruments, and commodities. Moscow Exchange Group includes a central depository (the National Settlement Depository) and a clearing center (the National Clearing Center), allowing Moscow Exchange to provide customers with full-cycle trading and post-trading services. More than 16 million private investors are registered with Moscow Exchange. The head office of Moscow Exchange is located in Moscow, Russia. Moscow Exchange and its subsidiaries employ about 2,000 people.
Moscow Exchange’s approach
The activities of Moscow Exchange comply with all applicable human rights laws, and the Group upholds high standards of ethical conduct. Moscow Exchange affirms that it takes a zero-tolerance approach to modern slavery and human trafficking. Provisions to this effect are contained in the Code of Professional Ethics, an updated version of which was prepared with the involvement of all employees of the Company. The Company also has other policies and procedures that regulate its position on these issues.
Moscow Exchange supports Conventions No. 111 and No. 156 of the International Labour Organization and respects the cultures, opinions, and lifestyles of all employees. It does not take part in any actions that could contribute to a workplace atmosphere conducive to intimidation, hostility, abuse, or abasement of human dignity.
Moscow Exchange communicates information about its approach to suppliers by posting relevant documents on its website, as well as by including anti-corruption provisions in its contracts. The Company’s suppliers are subject to due diligence. Moscow Exchange plans to assess the risk of human rights abuses in its supply chain.
Risk assessment
Given the technical nature of its business, the risk of Moscow Exchange participating in any business practices that involve human trafficking or modern slavery is low. Moscow Exchange is not aware of any cases that could be deemed an abuse of human rights in its own activities or in those of its subsidiaries and suppliers.
In Moscow Exchange’s procurement structure, 85% of purchases relate to IT, namely development, maintenance and procurement of software and hardware. Approximately 98% of all procurements come from local suppliers.
Communication and training
At Moscow Exchange, all employees are obliged to familiarize themselves regularly with the approaches, values and principles of professional ethics of the Group.
The Group has a hotline that can be used by any employee to report violations of the Code of Professional Ethics or other compliance incidents. Whistle-blowers receive a response in full anonymity. The hotline is also available to persons outside the Group, including individuals who work at companies that are part of Moscow Exchange’s supply chain and its business partners.