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European exchanges body votes to exclude Moscow Exchange -Breaking

by Mike Robinson

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© Reuters. In Moscow, Russia’s office on March 10, 2020, a board bearing the logo of Moscow Exchange can be seen. REUTERS/Shamil Zahumatov

LONDON (Reuters), Europe’s leading industry group for derivatives and securities exchanges announced Wednesday that its board unanimously voted to remove the Moscow Exchange.

As a response to Russia’s invasion of Ukraine, Britain, Switzerland, and other countries have implemented financial sanctions.

“The Federation of European Securities Exchanges condemns the Russian-led invasion of Ukraine. “Our thoughts and support are with the Ukrainian people,” FESE stated in a statement.

“In light of the Russian government’s actions, the FESE Board has recommended that the General Assembly vote to exclude the Moscow Exchange from the association, stripping it of FESE observer member status.”

Some FESE member countries, such as Deutsche Boerse in Germany (DE:), have begun to suspend trading and settle in Russian securities due to the sanctions.

Moscow Exchange was closed by Russia’s central banking for the third consecutive day on Wednesday.

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