CBR mulls holding exchange trading on weekends

MOSCOW. June 28 (Interfax) - The Central Bank of Russia (CBR) is discussing with market participants the possibility of holding organized trading on weekends, the CBR press service reported.

The CBR did not specify what exchanges and markets this might involve.

Moscow Exchange managing director Vladimir Krekoten said at the National Association of Stock Market Participants (NAUFOR) conference in May that the exchange is open to proposals that would help achieve the objective of doubling the capitalization of the Russian stock market, including the extension of trading times. If this requires the "whole market to trade 24/7, for example, or exchange trading on weekends, or us to extend trading hours, we're open to this dialog," he said.

Equities trading on the Moscow Exchange is now held from 10:00 a.m. to 6:50 p.m. Moscow time for the main session and from 7:05 p.m. to 11:50 p.m. for the evening session. The exchange also holds trading on certain holidays, when foreign exchanges are open.

The SPB Exchange , as an organizer of trading, is guided by the interests and needs of its clients when making decisions, a spokesman for the exchange told Interfax. "If there is such demand among trading participants, and if spending on rolling out and maintaining infrastructure on weekends is economically justified, we're prepared to roll out our infrastructure with them," he said.

At this point, market participants are only discussing whether this is necessary, BCS World of Investments department head Igor Pimonov told Interfax. "In our view, if this is needed, then on the stock market. But all this still requires study of the necessity for clients," he said.

"We're participating in the discussion with the market of the possibility of extending trading times, getting feedback from the industry," the Moscow Exchange told Interfax.