Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Moscow Exchange to open bond market for non-residents from "friendly" countries

Published 08/10/2022, 10:24 AM
Updated 08/10/2022, 10:31 AM
© Reuters. FILE PHOTO:  A board with the logo is on display outside the office of the Moscow Exchange in the capital city of Moscow, Russia March 24, 2022. REUTERS/Maxim Shemetov

© Reuters. FILE PHOTO: A board with the logo is on display outside the office of the Moscow Exchange in the capital city of Moscow, Russia March 24, 2022. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Moscow Exchange will allow non-residents from designated "friendly" countries that have not imposed sanctions against Russia to trade bonds from Aug. 15, Russia's largest bourse said on Wednesday.

Moscow Exchange said last week it would allow clients from "friendly" jurisdictions to start trading after an almost six-month hiatus but it later said this would apply only to the derivatives market, not the main stock market.

Analysts said the move was partly due to concerns that investors from the European Union, United States and Britain - which are currently banned from trading in Moscow - might be able to use the resumption of trading by "friendly" nations as a back door to offload any Russian stocks they still hold.

Apart from investors from "friendly" countries, non-residents whose final beneficiaries are Russian legal entities or persons will also get access to the bond market from next week, Moscow Exchange said on Wednesday.

© Reuters. FILE PHOTO:  A board with the logo is on display outside the office of the Moscow Exchange in the capital city of Moscow, Russia March 24, 2022. REUTERS/Maxim Shemetov

A spokeswoman for the bourse said last week the number of "friendly" investors was unknown as they have yet to be registered first, but their admission should gradually increase market liquidity. There is no timeline for opening the door to investors from "unfriendly" countries, she said.

Both corporate and government bonds are traded on the exchange, which is Russia's main bourse.

Latest comments

Time to buy Roubles .
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.