The Bank of Russia began evaluating shares on the Moscow Stock Exchange during the derivatives market failure that occurred on the morning of September 13. This was reported by RBC Investments with reference to the regulator’s press service.
On September 13, the pause in the derivatives market lasted four hours and became the longest pause in trading in this section in the entire history of the Moscow Exchange, with the exception of the suspension of trading in February -March 2022.
The previous record was recorded in September 2015; Then, due to a technical problem, trading in the derivatives market did not take place for about two hours.
“The Bank of Russia is evaluating the actions of the Moscow Stock Exchange in response to the failure,” the press service of the Central Bank of the Russian Federation told the publication.
The representative of the financial regulator noted that the law allows trade organizers to make decisions in certain cases to recognize transactions as not concluded, in particular, if the transactions were concluded in violation of trade rules, including as a result of technical failures.
Some of the large brokers, who focus on mass clients, confirmed to the publication that they had entered into a dialogue with the Moscow Stock Exchange about compensation for losses.
The Central Bank added that the decision of the Moscow Stock Exchange to compensate for losses claimed by investors “is the operational activity of the trade organizer.” The Bank of Russia does not interfere in the operational activities of supervised organizations.
Author:
Anastasia Marina
Source: RB
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