The Moscow Exchange is working on a plan to launch trading in the Indian rupee but there are certain ‘obstacles’ on the part of the Indian central bank, an exchange official said on Thursday. This has been reported by news agency Reuters stating that Daniil Korablev, head of sales to non-credit organizations, said on social media the launch was “not that simple” and may not happen this year. He did not specify the issues that needed to be resolved. Hit by Western sanctions over Ukraine, Russia is actively shifting its trade out of dollars and euros and into the currencies of what it regards as “friendly” countries.

Moscow Exchange (MOEX) is Russia’s largest exchange operating the country’s only multifunctional trading platform for equities, bonds, derivatives, currencies, money market instruments and commodities.

Starting 12 September 2022, non-resident clients from friendly jurisdictions as well as non-residents controlled by Russian legal entities or individuals will be able to trade on the MOEX Equities Market.

Non-resident clients from unfriendly jurisdictions and controlled by Russian legal entities or individuals will have certain limitations on equity transactions, such as trading in strategic and some other companies.

To provide access, brokers have been asked to identify their clients and the controlling persons thereof. Brokers are responsible for the relevance and accuracy of the information provided for client registration.

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Moscow Exchange plans to resume after-hours trading on the Equity & Bond Market, as well as pre-market trading on the Derivatives and FX Markets on 12 September 2022.

This will mean trading will run for 12 hours on the FX Market, 14 hours on the Equity and Bond Markets and 15 hours on the Derivatives Market.

Further, Moscow Exchange is also introducing new trading hours and all groups of investors will get extended trading opportunities on MOEX’s markets.

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From 12 September, the Equity & Bond Market will be open from 09:50 to 23:50 Moscow time.
09:50–18:50 – main trading session,
09:50–10:00 – opening auction
10:00–18:40 – trading period
18:40–18:50 – closing auction
19:00–23:50 – evening trading session
19:00–19:05 – opening auction
19:05–23:50 – trading period

On the Equity Market, 46 stocks will be available for evening trading, including stocks from the MOEX Russia Index, as well as negotiated trades, including negotiated trades with the CCP. ETFs will become available for trading at a later date.