Moscow Stock Exchange extends trading hours to attract more investors

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Russia’s largest institutional trading platform plans to extend the hours that shares can be traded from this winter in a bid to attract more investors, the Moscow Stock Exchange said on Wednesday ( MOEX).

Starting December 6, MOEX will open the stock market three hours earlier, at 6:50 a.m. Moscow time. This extends the daily session to last 17 hours. Currently, the trading hours in the market are from 9:50 a.m. to 11:50 p.m.

“Customers in Siberia and the Russian Far East as well as the Asia-Pacific region will benefit from more convenient trading hours. Market participants will be able to react more quickly to changing global market dynamics and implement additional trading and arbitrage opportunities in the morning, ”the exchange said in a statement.

MOEX has seen a wave of IPOs and side offers as regulators continue to simplify the investment environment and remove barriers to new listings. The exchange launched international equity trading in August 2020. Since then, the total number of foreign securities available for trading on the Moscow Stock Exchange has increased to 282.

MOEX also announced that it will open the FX auction starting in December which will run from 6:50 am to 7:00 am for all spot instruments. The exchange had already started trading currencies, gold and derivatives three hours earlier from March 1.

MOEX, which operates one of the world’s largest forex trading platforms, revealed that its total currency turnover reached 25.3 trillion rubles ($ 350 billion) as of September 2021. This compares to 23,000. billion rubles ($ 315 billion), which traded hands in August 2021.

“The opening auction will help generate a more representative opening price and reduce the risk of artificially inflating or undervaluing the market price. Since 2015, an opening auction has also been in place on the equity and bond market, ”he explains.

The Moscow Stock Exchange recently started trading in foreign securities denominated in US dollars as part of a major infrastructure upgrade. MOEX plans to make more international securities available for trading in the future based on demand from market participants. Transactions are settled both in Russian rubles and in the stock’s native currency.

MOEX also extended trading hours in an effort to attract more foreign investors and generate more liquidity. Overall, there has been a surge in retail activity throughout 2020 and 2021. Amid concerns about the economic impact of the coronavirus outbreak, there was a more positive side for all trading platforms, which has attracted a rush for business as investors rushed to protect the portfolios.


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