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Moscow Exchange Open on Holidays From May 2013

15.11.2012 19:51 / Interfax

Moscow Exchange will resume its open on holidays schedule from May 2013, Deputy Chairman of the Central Bank of Russia Sergey Shvetsov told the press on Thursday.

"We have decided to work every holiday starting next May, so when London is open, Moscow Exchange is open too”, he said.

The exchange was open on New Year’s break 2012, but a decision was made later to stop trading for the first days of January 2013, thus the exchange is expected to open 8 January 2013.

Shvetsov said that clients have opted for no trading during the New Year’s break, and the exchange complied.

Deputy Chairman of the Central Bank of Russia added that the underlying reason behind staying closed for the New Year’s break 2013 is that the Clearing Act is enacted in January, new accounts and new software are introduced. "We need to perform really serious tech maintenance. I think during the New Year’s break the exchange and the clients will work on minimizing risks of the 8 January launch", said Shvetsov.

Trading infrastructureProject Group №1Sergei Shvetsov