Breaking News

U.S. Sets Penalty Duties on Steel Pipe From South Korea, Eight Other Nations, to Counter Dumping
Tweet TWEET

Moscow Exchange Halts Derivatives Trading for Almost an Hour

OAO Moscow Exchange halted derivatives trading between 1 p.m. and 1:58 p.m. today.

The stoppage, which also affected the Standard sector of the bourse’s securities market division, was due to a technical issue, according to a statement on its website. Moscow Exchange’s shares climbed 0.5 percent to 65.05 rubles by 2:19 p.m. in Moscow.

“Our phones have been ringing with angry clients,” Luis Saenz, head of equity sales and trading at BCS Financial Group in London, said by e-mail.

The exchange halted derivatives and standard sector trading for 30 minutes on Jan. 25. It stopped its main-market trading for technical reasons on May 17, while currency trading was frozen April 23. The Moscow Exchange must end frequent trading stoppages that hurt Russia’s goal of becoming a global financial hub, Dmitry Pankin, former head of the market watchdog, said last year.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Wojciech Moskwa at wmoskwa@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.