By Andrei Skvarsky.
Russian stock exchanges Micex and RTS have warned they will not issue trading schedules for the New Year holiday season of January 1-10 before arrangements are made for the smooth operation of Russia’s entire banking system in that period.
The National Securities Market Association, the Russian National Association of Securities Market Participants and the
Association of Russian Banks support the government’s decision to keep Micex and RTS running on January 3-6 and January 9-10, the two bourses, which are in the process of merger, said in practically identical statements.
“This innovation will enable market participants to manage risks during the New Year holidays, serve to lower costs on open position margining, and reduce systemic risks for the market as a whole,” they said.
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