Moscow Exchange halts derivatives trading for almost an hour

Technical issue caused stoppage

OAO Moscow Exchange halted derivatives trading between 1 p.m. and 1:58 p.m. today.

The stoppage, which also affected the Standard sector of the bourse’s securities market division, was due to a technical issue, according to a statement on its website. Moscow Exchange’s shares climbed 0.5 percent to 65.05 rubles by 2:19 p.m. in Moscow.

“Our phones have been ringing with angry clients,” Luis Saenz, head of equity sales and trading at BCS Financial Group in London, said by e-mail.

The exchange halted derivatives and standard sector trading for 30 minutes on Jan. 25. It stopped its main-market trading for technical reasons on May 17, while currency trading was frozen April 23. The Moscow Exchange must end frequent trading stoppages that hurt Russia’s goal of becoming a global financial hub, Dmitry Pankin, former head of the market watchdog, said last year.

www.bloomberg.com

Copyright 2014 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome