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Regulator permits Moscow Exchange to carry out operations for non-residents until April 1
The Bank of Russia has issued a permit to the Moscow Exchange from March 21 to April 1 to carry out some operations in the interests of non-residents from unfriendly states. This is according to a statement on the official website of the Moscow Exchange.
The permit for the operations has been issued "in order to reduce liabilities arising from transactions made before February 28, 2022 (inclusive) on the Moscow Exchange in the interests of non-residents, who are entities of foreign states engaged in unfriendly actions," the Moscow Exchange says.
The regulator granted the permit to Moscow Exchange, the National Clearing Center (NCC) and the National Settlement Depository (NSD), to carry out the operations in the interests of non-residents from March 21 through April 1, 2022.
According to the statement, the following operations can be conducted: clearing and fulfillment of obligations following the results of clearing with the possibility of conducting the necessary transactions in cases of non-fulfillment or improper fulfillment of obligations by the participant; implementation of actions aimed at oncoming the date of fulfillment of obligations, conclusion of trades for the purpose of transferring (prolonging) obligations of clearing participants and their non-resident clients; making settlements on transactions necessary to terminate obligations under said transactions, as well as transactions related to them, including transactions resulting from the transfer of obligations under initial transactions; transfers of securities based on the results of clearing on depo accounts of depositors' depositories.
"The permission implies the possibility for market participants to carry out operations on the exchange aimed solely at reducing the obligations of their clients who are entities of foreign states that carry out unfriendly actions. The rest of the operations of professional trading participants in the interests of all non-residents must be carried out exclusively using the type "C" accounts," the Moscow Exchange says.
Earlier, the Russian government approved a list of foreign states and territories that commit unfriendly actions against Russia, its companies, and citizens. The list includes the United States and Canada, the EU states, the UK (including Jersey, Anguilla, the British Virgin Islands, Gibraltar), Ukraine, Montenegro, Switzerland, Albania, Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino, North Macedonia, and also Japan, South Korea, Australia, Micronesia, New Zealand, Singapore, and Taiwan (considered a territory of China, but ruled by its own administration since 1949).
The countries and territories mentioned in the list imposed or joined the sanctions against Russia after the start of a special military operation of the Russian Armed Forces in Ukraine.
[Source: Tass, Moscow, 20Mar22]
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