“SPB Clearing” – the central counterparty for contracts concluded during trading on the St. Petersburg Exchange – has suspended the execution of orders to withdraw funds from the accounts of trading participants, reported on Tuesday, November 28, Digital Broker. As the brokerage company notes, its instructions to withdraw client funds in foreign currency from the accounts of St. Petersburg Bank (the depositary of the St. Petersburg Exchange) “are canceled without execution with reference to” the notification of St. Petersburg Clearing.
“SPB Clearing does not execute new orders received by SPB Clearing from clearing participants for the return of funds that are collateral, as well as for replacing the currency of funds taken into account as collateral until the end of settlements on the final net obligations and net claims determined for obligations arising from contracts, in accordance with the regulations for clearing activities in the financial instruments market of NKO-CC “SPB Clearing”,” Digital Broker quotes the notification of the central counterparty of the St. Petersburg Exchange.
The broker notes that since its instructions from the companies of the St. Petersburg Exchange group are cancelled, until these restrictions are lifted, clients’ orders to withdraw funds accounted for in the company’s accounts in St. Petersburg Clearing, “including those received as a result of clients making conversion transactions at trading on the St. Petersburg Exchange “, including US dollars, Hong Kong dollars, Chinese yuan, will not be executed
“In addition, the specified funds in foreign currency, as not available for transactions, will not be taken into account by Digital Broker as part of client portfolios, including as part of securing clients’ obligations to the broker for transactions with incomplete coverage,” the company said in a statement. .
The St. Petersburg Exchange came under US blocking sanctions on November 2. On the same day, the exchange on which more than two thousand foreign securities (FBS) are traded suspended trading in FBS. From November 3, transactions on the exchange can be made only with certain Russian securities, including shares of the St. Petersburg Exchange itself.
Due to the introduction of US sanctions, settlements for investor transactions with foreign securities on the St. Petersburg Exchange, completed on November 1 and 2, were not immediately carried out. The new general director of the trading platform, Evgeny Serdkov, initially hoped that such calculations could be carried out on November 13. However, the deadline was then postponed. Last Tuesday, November 21, the St. Petersburg Exchange reported that it still managed to settle settlements with trading participants for transactions with securities concluded since November 1.
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2023-11-28 06:52:36
