OREANDA-NEWS. September 28, 2011. On September 26, 2011 Mr Dmitry Pankin, Head of the Federal Financial Markets Service, held a meeting with participants of the financial market and representatives of the Central Bank of Russia to discuss operation of the Russian financial market in a highly volatile environment.

Market participants share a common opinion about the current markets and estimate the situation as a more stable one compared to that in the autumn of 2008, and believe that it does not require ongoing interference on the part of the regulator.

The regulator supports the financial markets players in this regard and does not plan to use any manual market controls as it did during the financial crisis in 2008 when market participants were directly instructed by the regulator as to how they must proceed.

In addition, the market participants draw the attention of the regulator to the inefficiency of the practice of suspending trading until the end of the trading day in case of harsh market fluctuations.

MICEX and RTS intend to prepare and send to the FFMS of Russia their ideas on improving the regulations in respect of the mechanisms for suspension and resumption of trading on exchanges.