The central counterparty of the St. Petersburg Stock Exchange has suspended the withdrawal of funds from the accounts of trading participants. This was reported by Tsifra Broker.
The company reported that it had received a notification from SPB Clearing. It refers to the failure to comply with the participants’ instructions to “return the funds that are in guarantee.” The notice also indicates failure to comply with instructions to replenish the currency from the funds taken as collateral.
In this regard, Digital Broker will not be able to execute client orders to withdraw funds in foreign currency (US dollars, Chinese yuan, Hong Kong dollars), including those received through conversion transactions on the St. Petersburg Stock Exchange. These measures will remain in place until restrictions are lifted.
“In addition, Digital Broker LLC will not take into account funds specified in foreign currency, as not available for transactions, as part of client portfolios, including as part of guaranteeing Clients’ obligations to the Broker for hedged transactions incomplete,” he concluded in Digital Broker.
At the beginning of last week, Tsifra Broker announced the forced closure of clients’ short positions in foreign securities on the St. Petersburg Stock Exchange.
Earlier this month, SPB Exchange, along with AFK Sistema and several Russian banks, joined the US SDN list. Being on this list means isolation from the dollar system, freezing of assets and a ban on cooperating with American companies.
Due to sanctions, SPB Exchange started having problems with settlements for transactions on November 1 and 2, but the platform claimed that these settlements took place on November 20.
On November 27, the Moscow Arbitration Court received a request to declare SPB Exchange bankrupt, but the court did not accept it.
Author:
Natalia Gormaleva
Source: RB
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