MOSCOW (Reuters) – The Moscow Stock Exchange will allow non-residents of designated “friendly” countries that have not imposed sanctions on Russia to trade in bonds from August 15, Russia’s largest stock exchange said on Wednesday. .
The Moscow exchange said last week it would allow clients from “friendly” jurisdictions to start trading after a nearly six-month hiatus, but later said that would only apply to the stock market. derivatives, not the main stock market.
Analysts said the move was partly due to concerns that investors from the European Union, United States and Britain – which are currently banned from trading in Moscow – could use the resumption of trade by “friendly” nations as a back door to offload any Russian stocks they still hold.
In addition to investors from “friendly” countries, non-residents whose final beneficiaries are Russian legal or natural persons will also have access to the bond market from next week, the Moscow Stock Exchange announced on Wednesday.
A spokeswoman for the exchange said last week that the number of “friendly” investors was unknown as they have not yet been registered first, but their admission should gradually increase market liquidity. There is no timetable for opening the door to investors from “hostile” countries, she said.
Corporate and government bonds are traded on the stock exchange, which is the main stock exchange in Russia.
(Reporting by Reuters)
