Finam launched over-the-counter trading in blocked shares from the Moscow Exchange

Finam provided investors with access to over-the-counter trading in foreign securities on the Moscow Exchange, which was discontinued after sanctions against the National Settlement Depository (NSD). According to press release broker, access to trading in ten securities on the Moscow Exchange has been restored.

Foreign shares and shares of American Airlines, Apple, Cisco Systems, Exxon Mobil, FinEx China, FinEx Gold, Netflix, NVIDIA, Pfizer, Tesla and Virgin Galactic are available for trading. “At the first stage, more than 120 instruments will be available for making transactions… In the future, the list of instruments will be regularly updated,” the company clarified.

Over-the-counter transactions are available to private investors with a single account with Finam, and the client’s portfolio must already have foreign securities. For an over-the-counter purchase transaction, you must be a qualified investor. The broker’s commission is calculated and charged in rubles, does not depend on turnover and is 0.8%.

In June 2022, the European depositories Euroclear and Clearstream blocked NSD accounts, which is why some of the securities of Russian investors were frozen. By mid-2023, non-resident assets in Russian brokerage accounts exceeded 1 trillion rubles. Based on the results of the second quarter alone, they increased by 23%. The assets in the accounts of legal entities registered in internal and external offshores grew most actively. These jurisdictions are used to operate on the stock market and build business with the remaining foreign partners.

Details – in the material “Kommersant” “Non-residents brought a trillion”.

Laura Keffer