Russia's Main Exchange Resumes Trading After Two-Hour Halt

  • Stocks, ruble, bond trading were down from 3pm Moscow time
  • Clients couldn't connect due to "abnormal" pressure on network

Moscow Exchange PJSC, Russia’s main bourse, resumed trading across all markets after a two-hour outage, the latest in a string of interruptions this year.

Trading in stocks and bonds restarted at 4:50 p.m. Moscow time, while derivatives resumed at 5 p.m. and currencies at 5:15 p.m. The shut-down started at 3:01 p.m. due to a network equipment failure, the bourse said on its website.

Although there were no errors with the trading and clearing systems, customers had trouble connecting to the exchange because of "abnormal" pressure on the network, Moscow Exchange said in a statement in the evening.

The halt is a setback for Russia’s biggest exchange as it seeks to lure foreign and local investors to the Moscow trading platform. The last interruption on the Moscow Exchange was on Aug. 12 when derivatives trading was halted. In March, the exchange stopped currency and precious-metals transactions for more than an hour.

“Had this been the first halt, that would’ve been tolerable, but this is not
the first time a halt occurs this year,” Yaroslav Podsevatkin, head of trading at Aton in Moscow, said by e-mail. “These halts are turning into a statistic. I think many market players will start taking these risks seriously and considering the overall situation this could seriously decrease liquidity.”

Moscow Exchange’s currency market trading volume jumped 87 percent in August to 31.7 trillion rubles ($463 billion) and equity trading volume rose 17 percent from a year earlier to 798.9 billion rubles, the bourse said Sept. 2.

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