On November 17, the St. Petersburg Stock Exchange will begin handling payments for transactions with foreign securities on November 1 and 2, as outlined in a message published on the exchange’s website.
The message states: “The working group, with participation from the Central Bank of Russia, has defined the settlement mechanism for foreign security transactions between the St. Petersburg Stock Exchange and Russian trading participants.”
The note also indicates that the St. Petersburg Exchange and its foreign counterparties, during their interactions, continue to determine the procedure for joint actions allowed under a license from the US Treasury. To this end, the exchange maintains ongoing communication with trading participants and the Central Bank of the Russian Federation.
A board of directors meeting took place at the stock exchange on November 11. Based on its outcomes, the exchange approved several action scenarios designed to provide investors with access to assets. The stock market now operates within the framework of these scenarios.
On November 2, the United States imposed blocking sanctions on the St. Petersburg Stock Exchange, prohibiting American companies from engaging in any transactions with it.
What should foreign shareholders do next? This question is addressed in a material from Newspapers.Ru [Cite: Newspapers.Ru].
Previously, the SPB Stock Exchange had planned to conduct reconciliations concerning frozen transactions on November 13 [Cite: Newspapers.Ru].