The Moscow Exchange plans to launch a separate trading mode for non-residents at the end of June. The withdrawal of funds for them will still be unavailable, Interfax reports, citing sources.
According to the agency, brokers are already preparing appropriate IT solutions to enable their “blocked” non-resident clients to trade in this mode.
“The Moscow Exchange is developing a mechanism to provide non-residents with operations permitted under the current regulation on the markets of the exchange, including using type C accounts. The date for the launch of the service will be determined after testing by participants, approval and introduction of necessary changes to the current regulatory documents and regulations of the exchange”, – told the press service of the exchange.
The sources also explained that a separate section will be calculated only for non-residents, and the auction will be held with other non-residents. Russian investors will not be there to avoid arbitrage. Foreigners will be able to withdraw the rubles received from the sale only to Russian type C accounts, but their withdrawal abroad will not be available.
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Text prepared by Timur Aliev