SPB Exchange intends to conduct settlements for transactions concluded on November 1 and 2, and on November 17. The deals were stuck due to US sanctions on the exchange. Previously, they were planned to be held on November 13.
Today, November 14, a meeting of the working group of the St. Petersburg Exchange Committee on the development of the securities market was held. Representatives of the Central Bank took part in it. “The delay in settlements of the St. Petersburg Exchange with Russian trading participants is caused by an increase in the terms of settlements of foreign counterparties with the St. Petersburg Exchange due to the restrictions introduced and the compliance procedures associated with them,” the statement says. message exchanges.
The St. Petersburg Exchange, together with foreign counterparties, continues to determine the procedure for joint actions. The company is in contact with bidders and the Bank of Russia.
On Saturday, November 11, at a meeting of the board of directors, several action scenarios were approved “aimed at providing investors with access to assets.” As noted in the message, management acts “in accordance with the approved scenarios.”
The St. Petersburg Exchange, which is focused on trading foreign securities, came under US sanctions on November 3. OFAC has issued a license to exit the securities of the St. Petersburg Exchange until January 31, 2024. The Central Bank called the viability of the St. Petersburg Exchange a challenge after the introduction of restrictions.
About the reshuffles on the stock exchange due to sanctions – in the Kommersant article “The St. Petersburg Exchange will go as before.”