The move is poised to be vital for the bloc and participating nations, and it appears there will be a lot of them. According to one Russian official, there are already 159 countries seeking to adopt the system currently. With a potential launch coming in October, it could have massive global market ramifications.

This should tank the stock market in October-ish timeframe (probably a bit before then, since the markets are forward-looking).

It will probably also trigger massive inflation, since the demand for dollars will fall precipitously if countries have an alternative to the dollar-based SWIFT system.