Moscow Exchange Announced Trading Schedule for May Holidays
OREANDA-NEWS. The executive bodies of Moscow Exchange and CJSC "MICEX Stock Exchange" have set the following operating schedule for the Moscow Exchange's markets for 01.05.2013 – 10.05.2013:
May 1, 4, 5 and 9 – non-trading days on all the markets;
May 2, 3 and 10 – trading days on:
the Securities and Derivatives Markets, as per the regular trading schedule;
the FX market, with the following schedule for trades settlement:
trades in TOD instruments will not be allowed;
trades in TOM instruments executed on 30.04.2013, 02.05.2013 and 03.05.2013 will be settled on 06.05.2013;
trades in LTV instruments executed on 30.04.2013, 02.05.2013 and 03.05.2013 will be settled on 07.05.2013;
trades in TOM instruments executed on 08.05.2013 and 10.05.2013 will be settled on 13.05.2013;
trades in LTV instruments executed on 08.05.2013 and 10.05.2013 will be settled on 14.05.2013.
On these days the Bank of Russia deposit and credit operations, VEB deposit auctions and deposit operations of the Federal Treasury and the Pension Fund will not be carried out.
On May 6-8, 2013 all the Moscow Exchange's markets will be operated in accordance with the regular schedule.
Please pay your attention to the fact that the initial margin basic size to be applied to trades on the Derivatives market and the sector Standard on May 1-10, 2013 will not be increased.
From April 30, 2013 through May 13, 2013 margin requirements on the FX market will be defined as usual. Therefore, clearing members may become liable to provide Collateral deposits (for the second parts of executed swap trades) and/or execute Margin calls including on May 2, 3 and 10, 2013. Failure to duly perform such liabilities (to post Collateral deposits until 17:30 MSK on the current Operation day; to execute Margin calls until 17:30 MSK on the next Operation day) may entail mandatory closing out clearing member's positions (running of the Additional UTS of the 1st type as per the Clearing rules).
National Clearing Center advises clearing members to apply the stress scenario with the following maximum relative deviations of the currency pairs" prices to define risks and possible amounts of the Collateral deposits:
10% – for the currency pairs USD/RUB and EUR/RUB;
8% – for the currency pair EUR/USD.
30% – for the currency pair CNY/RUB.
By the Clearing rules, Collateral deposits should be in rubles. Obligations to pay Clearing, Trading fees as well as a fee for provision of the ITS will be treated in accordance with the regular procedure on May 2, 3 and 10, 2013.
Please follow the links below for further information on trading at the Moscow Exchange from May 01, 2013 through May 10, 2013:
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