NYSE and Nasdaq halt trading in stocks of Russian-based companies
Suspension linked to widening economic and trade sanctions against aggressor Russia
28 February 2022 - 23:09
byJohn McCrank
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
A trader works inside a booth at the New York Stock Exchange. Picture: BRENDAN MCDERMID/REUTERS
New York — Nasdaq and Intercontinental Exchange (ICE)’s NYSE have temporarily halted trading in the stocks of Russian-based companies listed on their exchanges, their websites showed.
The halts were due to regulatory concerns as the exchanges seek more information following economic sanctions imposed on Russia because of its invasion of Ukraine, people familiar with the matter said.
The Nasdaq-listed stocks halted are: Nexters, HeadHunter Group, Ozon Holdings, Qiwi and Yandex.
Trading halts for disclosure of material information on Nasdaq are instituted to ensure that “material information is fairly and adequately disseminated to the investing public and the marketplace, and to provide investors with the opportunity to evaluate the information in making investment decisions,” according to the exchange's rule book.
The NYSE-listed stocks halted were Cian, Mechel and Mobile TeleSystems.
NYSE-owner ICE also said it would not add any new debt issuances from sanctioned Russian entities to its fixed income indices, and that affected existing debt would be removed on March 31.
Separately, OTC Markets Group, which provides price information for more than 12,000 over-the-counter securities, said it was seeking regulatory information regarding the sanctions on Russia and their impact on the trading of Russian American depository receipts.
“OTC Markets is monitoring and working with federal regulators and will act in accordance with their guidance and directives as information becomes available,” the New York-based company said in an emailed statement.
The Depository Trust and Clearing Corporation, an industry-owned organisation that processes nearly all US securities transactions, also said it was assessing the potential impact of the Russia sanctions on the financial system and volatility.
“We are closely watching the situation in Ukraine and are committed to protecting market stability and providing certainty to our clients and the broader industry,” a spokesperson for the group said.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
NYSE and Nasdaq halt trading in stocks of Russian-based companies
Suspension linked to widening economic and trade sanctions against aggressor Russia
New York — Nasdaq and Intercontinental Exchange (ICE)’s NYSE have temporarily halted trading in the stocks of Russian-based companies listed on their exchanges, their websites showed.
The halts were due to regulatory concerns as the exchanges seek more information following economic sanctions imposed on Russia because of its invasion of Ukraine, people familiar with the matter said.
The Nasdaq-listed stocks halted are: Nexters, HeadHunter Group, Ozon Holdings, Qiwi and Yandex.
Trading halts for disclosure of material information on Nasdaq are instituted to ensure that “material information is fairly and adequately disseminated to the investing public and the marketplace, and to provide investors with the opportunity to evaluate the information in making investment decisions,” according to the exchange's rule book.
The NYSE-listed stocks halted were Cian, Mechel and Mobile TeleSystems.
NYSE-owner ICE also said it would not add any new debt issuances from sanctioned Russian entities to its fixed income indices, and that affected existing debt would be removed on March 31.
Separately, OTC Markets Group, which provides price information for more than 12,000 over-the-counter securities, said it was seeking regulatory information regarding the sanctions on Russia and their impact on the trading of Russian American depository receipts.
“OTC Markets is monitoring and working with federal regulators and will act in accordance with their guidance and directives as information becomes available,” the New York-based company said in an emailed statement.
The Depository Trust and Clearing Corporation, an industry-owned organisation that processes nearly all US securities transactions, also said it was assessing the potential impact of the Russia sanctions on the financial system and volatility.
“We are closely watching the situation in Ukraine and are committed to protecting market stability and providing certainty to our clients and the broader industry,” a spokesperson for the group said.
Reuters
Russia central bank doubles interest rates as sanctions bite
Russian channel RT under scrutiny in UK over Ukraine coverage
AU leaders alarmed at reports Africans prevented from fleeing Ukraine
Neutral Swiss adopt EU sanctions against Russia in break with past
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Related Articles
Many civilians feared dead as Russian artillery attacks Kharkiv residential ...
Ukraine seeks UN investigation into alleged Russia war crimes
Nato and US blast Putin’s nuclear order as Ukraine agrees to talks
WATCH: Focus on the Russia-Ukraine conflict
Russia’s economy reels as Western firms leave as sanctions intensify
S&P cuts Russia’s rating to junk, Moody’s issues junk warning
Presidency again fails to censure Russia as Putin puts nuclear force on high ...
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.