13 Jun 2024 11:58

Trading participants' client funds in foreign currency are not affected - MOEX

MOSCOW. June 13 (Interfax) - Trading on all MOEX markets after the introduction of US sanctions started on Thursday as per previously announced regulations and is proceeding as usual; the National Clearing Center (NCC) carried out all the procedures required to resolve the consequences of the imposed restrictions in accordance with clearing rules, a statement from the trading platform said.

"As a result of the measures implemented, foreign currency funds on the client settlement codes of trading participants were not affected," the MOEX said.

OFAC (Office of Foreign Assets Control, the division of the US Treasury Department responsible for sanctions enforcement) added the MOEX and its members the National Clearing Center (NCC) and the National Settlement Depository (NSD) to the sanctions list on Wednesday.

The MOEX announced it would not conduct trading in dollars and euros as of June 13 following the sanctions announcement. Meanwhile, the Bank of Russia stated that transactions with these currencies will continue to be made on the over-the-counter market, and that bank reports and information received from the over-the-counter digital trading platforms will be used to determine the official exchange rates of the dollar and euro to the ruble.

On Thursday, the Central Bank announced its decision to suspend trading in the Hong Kong dollar, as well as the postponement of the start of trading on the foreign exchange market, the precious metals market and the derivatives market until 9:50 Moscow time.