Broker Tinkoff Investments has suspended trading in foreign securities while client assets are transferred to a new unauthorized repository. Trading should resume within 1-3 weeks
“We are transferring foreign securities traded on the SPB Exchange to a sub-sanctioned company. In order to avoid the risk of blocking, as well as to take all necessary steps for the transfer, we are temporarily suspending trading in foreign securities,” the broker said in a statement.
In addition, temporary restrictions will apply to securities traded on the Hong Kong Stock Exchange, access to which is provided by the SPB Exchange.
Starting Monday, Tinkoff Investments will also suspend trading in euros. The currency will be excluded from the list of liquid instruments. Withdrawals in euros will continue to be available. Other currencies will not be affected.
Tinkoff Bank was placed on the EU sanctions list on February 25 as part of the 10th sanctions package. Tinkoff Investments assured that they were prepared for this and that all client assets would be transferred to a new non-sanctioned company.
The broker has not yet named this company, but said it agreed with it “several months ago.”
Author:
Ahmed Sadulayev
Source: RB
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