OREANDA-NEWS. Moscow Exchange is to introduce the Closing Auction from 2 September, which will replace the current Post-trade Auction.

This service is in line with best practice at the world”s leading exchanges, and appeals to both international and domestic participants. The auction uses a new algorithm that utilizes the principle of random auction termination, which precludes the market price from being artificially increased or decreased.

The Closing Auction”s generated price will be recognised as the official closing price for the Russian market.

The closing auction will run from 18.40-18.50 pm MSK. The end of trading will move from 18:45 pm to 18:40 pm MSK.

Closing Auction in T+2.