BCS World of Investments asked to close all short positions on Qiwi receipts
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Broker “BCS World of Investments” asked clients to close all short positions (shorts) before 16:00 Moscow time and provide money for all long positions (longs) on Qiwi receipts (MOEX: QIWI), reported in Telegram channel investment companies.
The message says that from 16:00 Moscow time today, February 21, BCS has removed discounts on positions in Qiwi receipts. If investors do not comply with the broker’s requirements, they will receive a margin call – a warning that the value of the assets has dropped too low and if the leverage declines further, leverage positions may be forcibly closed.
The Bank of Russia has revoked the license of Qiwi Bank as of today. The regulator cited the reason for the participation of a financial organization in settlements between individuals and shadow businesses: crypto exchangers, bookmakers, online casinos.
After the license was revoked, Qiwi Bank began blocking transactions through Qiwi wallets (depositing and withdrawing funds). The Qiwi mobile application and the Contact payment system, through which money was transferred abroad, stopped working. Revocation of license from Qiwi Bank affected the work of Raiffeisenbank, Tochka Bank and Metallinvestbank.
The Deposit Insurance Agency reported that owners of Qiwi Bank electronic wallets can return the money by submitting an application to the state corporation. Payments to depositors will begin no later than March 6. You can submit an application for compensation to the DIA during the period of bank liquidation; it will be less than a year. You can return an amount of up to 1.4 million rubles.
The news of the license revocation caused a collapse in the quotes of Qiwi depositary receipts on the Moscow Exchange; they fell by almost 50%. This happened with increased investor activity. By 12:30, the trading volume in shares amounted to 1.14 billion rubles, which is four times higher than the previous day.
Read more about the situation in the Kommersant article. “Qiwi Bank has lost its license”.
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