By Ivan Anderzhanov.
Russia’s financial regulator has opted not to interfere by using market controls like it availed of in the aftermath of the last financial crisis in 2008.
Dmitry Pankin, head of the Federal Financial Markets Service, held a meeting with traders and representatives of the Central Bank of Russia to discuss the highly volatile equity markets on September 26.
“The market participants draw the attention of the regulator to the inefficiency of the practice of suspending trading until the end of the trading day in case of harsh market fluctuation,” according to a statement today from the RTS exchange, which is merging with rival Micex.
In 2008 and 2009, both exchanges were constantly slammed shut for days as markets were pummelled. Micex has already been suspended once this year after “a node” was supposedly busted.
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