The Moscow Interbank Stock Exchanges have not given Trading session at Moscow Interbank Stock Exchange stock exchange will trade in the eveningsto come to an end in 18. 00. It was declared yesterday by the general director of group of the Moscow Interbank Stock Exchange Alexander Potyomkin. Technological complexities with carrying out of calculations and a hard line of Federal Agency of the financial markets (FSFR) have forced a stock exchange to postpone introduction of evening session for uncertain time. According to participants of the market, as a result considerable volumes of the Russian stock market will pass to the western platforms and in off-exchange sector.
according to Alexander Potyomkin, “ time of the termination of the auctions at a stock exchange will be transferred with 19. 15 on 18. 00 “. “ Most likely, this decision will come into force in March “ - the head of the Moscow Interbank Stock Exchange has informed. As he said, requirements of order FSFR about obligatory carrying out of clearing under transactions in 18. 00 do not allow to offer brokers comprehensible technology of trade at a stock exchange in the evening, “ Therefore it is easier to follow to the instruction of order FSFR and to stop the auctions “.
According to the requirement of order FSFR #06 - 126/ pz - n from the November, 2nd, 2006, all stock exchanges are obliged to stop the auctions in 18. 00 and to carry out calculations under transactions (clearing). This requirement has come into force on January, 1st, 2007. RTS stock exchange has already co-ordinated respective alterations in rules of the auctions in FSFR. On FB the Moscow Interbank Stock Exchanges were going to renew the auctions after carrying out of clearing session, noticing that for a while to 19. 00 it is necessary peak of operations at a stock exchange therefore losses of net profit of the Moscow Interbank Stock Exchange will make to $10 million a year. Documents with new rules of the auctions have been submitted in FSFR.
As head FSFR Oleg Vjugin, " has declared yesterday; after consultations of a stock exchange we have made decision in the near future to register a rule of trade and clearing of the Moscow Interbank Stock Exchange which they have presented us earlier. The stock exchange will be obliged to spend after 18. 00 high-grade clearing session “. Thus, as have explained in FSFR, for carrying out of high-grade calculations it is necessary from 40 minutes till 1 o`clock. Thus in FSFR notice that the auctions on FB the Moscow Interbank Stock Exchange can be renewed only approximately in 19. 00 and only with calculations “ tomorrow “.
In such conditions session prolongation on FB the Moscow Interbank Stock Exchange is not meaningful: if having rummaged in exchange trade it will be tightened on an hour, to renew the auctions there will be already nobody. According to the interrogated brokers, in such situation participants of the market will prefer alternative trade. “ the stock exchange offer to trade with calculations ` tomorrow ` gave to people the option: to trade or not, - the vice-president of the company ` Brokerkreditservis ` Yury Mintsev has told. - now investors lose this choice. The stock exchange will be closed, and investors need to use only other kinds of trade “.
As has declared a source close to management FB the Moscow Interbank Stock Exchange, “ Turns under the Russian actions will leave on the off-exchange market or in general will leave Russia. Besides, there will be a redistribution of clients in favour of large Russian brokers “. “ In the near future we will observe an obvious overflow of the western clients from Russian the Internet - brokers in favour of classical broker houses “ - the head of department of trust management of bank " has declared; Zenith “ Sergey Matyushin. To keep clientele, the Internet - brokers will be compelled to offer the clients trade service on the western exchange platforms.