The Central Bank called the viability of St. Petersburg Exchange a challenge – Kommersant

First Deputy Chairman of the Central Bank of Russia (CB) Vladimir Chistyukhin called the viability of the St. Petersburg Exchange a challenge for its shareholders and management. The complete concentration of work on securities of friendly countries, according to him, “does not fully help in this situation,” since the partners of the trading platform “very carefully” interact with sanctioned companies.

“I think that the shareholders and management of the St. Petersburg Exchange will face a very serious challenge regarding the long-term viability of this institution; they will need to find some new niches, understand where they can find a competitive advantage, as was the case with trading in foreign securities,” – said the first deputy chairman of the Central Bank on the sidelines of the Finopolis forum (quote from “Interfax”).

Vladimir Chistyukhin added that the Central Bank is in constant contact with the St. Petersburg Exchange on issues of ensuring the continuity of its operational activities. The head of the Service for the Protection of Consumer Rights and Ensuring the Availability of Financial Services of the Central Bank said at the forum that investors will be able to sell foreign securities on the stock exchange until January 31, 2024.

On November 2, St. Petersburg Exchange came under US blocking sanctions, after which it suspended trading in foreign shares. November 7 trading platform appointed the new general director – he became the former deputy head of the St. Petersburg Exchange Evgeny Serdyukov.

Read more about the future plans of the St. Petersburg Exchange in the text of Kommersant. “SPB Exchange shifts focus”.

Petr Buzlaev