St. Petersburg Exchange announced the date for resumption of settlements

SPB Exchange will resume settlements on transactions suspended after sanctions on November 17. Corresponding date called press service of the site.

The date for the resumption of trading was determined by a working group under the Committee St. Petersburg Exchange for the development of the securities market, which includes brokers. Representatives of the site explained the delay in settlements for transactions concluded on November 1 and 2 by an increase in settlement times for foreign counterparties due to sanctions USA and related compliance procedures. Before the decision to resume trading, the Exchange’s board of directors identified various scenarios to ensure clients’ access to assets.

Until early November, the St. Petersburg Exchange (SPB Exchange) remained the only Russian platform for trading foreign shares. November 2 against the exchange introduced US blocking sanctions. The inclusion of a site in the SDN list implies that its assets in America are blocked, and citizens of the country are prohibited from financial transactions and transactions with them.

According to the first deputy chairman Bank of Russia Vladimir Chistyukhin, the site’s owners and management will face a serious challenge that threatens its viability. However, the regulator excluded state assistance to owners of foreign shares purchased on the St. Petersburg Exchange. Investors who bought foreign securities were aware of the risks of such investments, said the Deputy Chairman of the Central Bank Philip Gabunia

Music News First

Music News First is a Articles Publish Website. We publish Music News Articles Around the World.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button