Monday July 31 2023
News Source: Global Exchanges
Focus: Clearing & Settlement
Type: General
Country: Russia
On 31st July 2023, Moscow Exchange (MOEX) transferred trading in shares and bonds to a single T+1 settlement cycle.
Thus, settlements on concluded transactions in all markets of the Moscow Exchange in the main trading modes and delivery of acquired assets are now carried out on the next trading day after the day the transaction was concluded (previously on the second trading day).
Shortening the settlement cycle will increase the convenience of trading and settlement both for trading and clearing participants and for all groups of investors.
Synchronization of settlements with other markets will reduce the time spent on transactions in the markets and optimize liquidity management mechanisms, as well as simplify the formation of the trading and settlement calendar of the stock market on holidays. In addition, the introduction of the T+1 settlement cycle will provide an additional trading day for corporate events of Russian public companies, including an additional trading day before the dividend cut-off date.
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