On September 19, 2012 participants
of a joint meeting between the Councils
of two exchanges, Moscow Exchange and CJSC MICEX
Stock Exchange, considered an issue of trading
on holidays and non-business days. The Councils'
members discussed a conceptual approach to the
issue.
The conception proposed by the members contains
recommendations for the Exchange to hold trading
on the markets during non-business days in Russia
if more than one of such days coincide with
business days on the stock exchanges
in the UK and US. This does not include official
public holidays (1 and 7 January,
23 February, 8 March, 1 and 9 May,
12 June, 4 November).
The participants of the meeting agreed to the
recommendation of the Executive board to refrain
from opening trading and to conduct
a comprehensive testing of the on-exchange
software and technological system with an involvement
of interested trading members on 4 January.
The resolution was made due to the necessity
to adjust the Exchange's settlement and clearing
systems and market members' infrastructure
to bring them in line with the Law
"On clearing and clearing activities" (effective from
January 01, 2012). In addition, the Councils'
members advised to keep the markets closed
on Saturday, December 29, 2012 and open trading
on all markets from January 8, 2013.
For further information, please contact the Public
Relations Department at (495) 363-3232.
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