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Limited Russian stock market trading to resume on March 24, central bank says -Breaking

by Mike Robinson

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© Reuters. The Moscow Exchange has a signboard with its logo on it in their Moscow office, Russia. It will be displayed until March 10, 2020. REUTERS/Shamil Zahumatov

(Reuters) – Russian central banks announced Wednesday that stock market trading will resume Thursday following a nearly month-long hiatus. 33 securities are scheduled to trade on the Moscow Exchange, but only for a short time. Short selling is prohibited.

According to the central bank, trading in blue chips will occur between 0650 GMT – 1100 GMT.

The last time Russian stocks traded on Moscow Exchange was Feb. 25, 2015. The central bank stopped all trading during turmoil caused by Western sanctions on Ukraine.

Tuesday saw the resumption of trading in OFZ bonds. Monday also marked the beginning of central purchasing OFZ papers to try and limit volatility. It took longer to return to equities trading as the bank sought ways of clearing a backlog while trying not too risk a market collapse.

According to the central bank, trading in derivatives with individual shares and contracts on Moscow Exchange will occur from 10 am to 2 pm (0700 to 1100 GMT) according to the normal format.

The statement stated that the trading system for subsequent days would soon be made public.

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