Trading volume on the St. Petersburg Stock Exchange decreased three times during the year. The platform focused on trading shares of foreign companies, but due to the imposed sanctions it was suspended. Now the exchange will focus on IPOs of sanctioned companies.
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The total trading volume on the St. Petersburg Stock Exchange at the end of 2023 decreased three times to 4.5 trillion rubles. This is stated in the annual report of the Bank of Russia.
Of the total trading volume, almost half (2.7 trillion rubles) came from transactions for the purchase and sale of shares, receipts and units of investment funds. Income from the provision of services and commissions decreased to 613.3 million rubles, interest income fell to 576.7 million rubles.
SPB Exchange managed to more than triple its net loss in 2023. At the end of the year it amounted to 525.8 million rubles and in 2022 to 1.72 billion rubles.
The United States imposed sanctions against the St. Petersburg Stock Exchange in November 2023. The platform was forced to stop trading its main product: shares of foreign companies.
In March 2024, it became known that the St. Petersburg Stock Exchange decided to focus on conducting IPOs of companies subject to Western sanctions.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
