Moscow Exchange halts derivatives trading for almost an hour

November 13, 2013 05:12 PM
Technical issue caused stoppage

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.

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