SPB Exchange has created the necessary infrastructure and is ready to start trading on weekends. This was stated by the general director of the trading platform Evgeny Serdyukov at the Ural Conference NAUFOR – 2024, writes RBC
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“There is nothing stopping us from starting weekend operations on Saturday. Of course, we are in dialogue with our regulator and with our commercial participants. Therefore, while the dialogue continues, trade has not started, we are working in “idle mode”, but the technology is completely ready,” the senior manager said.
According to him, operations on weekends will open at 10:00 Moscow time and end at 23:50 Moscow time. SPB Exchange does not exclude the possibility of extending trading hours until the morning from 07:00 Moscow time.
On Saturday and Sunday it will be possible to trade shares of 15 Russian companies: Sberbank, Gazprom, Lukoil, Norilsk Nickel, TKS Holding, VTB, Yandex, the St. Petersburg Stock Exchange itself and others. Other instruments will not be available in the first stage; The exchange may expand its range at the request of investors.
Margin positions will not be closed over the weekend, but the site will set a price fluctuation limit of +/- 1.5% from Friday’s closing price. Saturdays and Sundays will be considered additional sessions on Monday or the first trading day after that.
SPB Exchange added that deliveries and settlements of transactions, deposits and withdrawals of money, clearing, processing of corporate actions and filing of margin calls will not be carried out on weekends. Unfulfilled requests will be canceled at the end of the weekend calendar day and commissions will be canceled on the first business day.
In June, the Moscow Stock Exchange announced its readiness to start weekend trading. The site planned to start trading in the most liquid stocks, bonds, including federal loans and fund shares. It later became known that weekend trading on the Moscow Stock Exchange would not begin before 2025.
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.
