|
|
 |
Authorities to Halt RTS, MICEX Trading If Index Slumps
Russia’s Federal Financial Market Service introduces new procedures for halting the trading in 2009, RIA Novosti reported. The trading will be suspended in response to changes in the basic index rather than in the technical one.
Starting from New Year, the trading will be halted for an hour should the benchmark of RTS or MICEX deviate by 15 percent, while the 25-percent deviation will close the floors till the end of the day.
At the same time, the trading will continue if the threshold is reached after 4:00 a.m. Today’s practice is to halt trading when the technical index drops by 5 percent or grows by 10 percent. The floors are closed either till the next trading day or till a special order of Federal Financial Market Service if the technical index slumps by 10 percent or gains 15 percent.
As to the definite stocks, the trading will be halted for an hour or till the day-end if the deviation is 20 percent and 30 percent respectively. At the same time, the deals will continue on futures and REPO markets irrespective of fluctuations. New procedures have been agreed on with the Central Bank of Russia to take effect starting from January 1, 2009.
This year, MICEX and RTS halted the trading from time to time following the surge or slump of indexes caused by the global financial collapse.
www.kommersant.com
|
|
|
Photo: Oleg Kharseev