Setting parameters of weekend trading
The Bank of Russia has established weekend trading parameters to mitigate risks to exchanges and their clients. Trading on Saturdays and Sundays will be deemed additional to Monday trading rather than stand-alone sessions to avoid providing clearing and settlement services on weekends. The relevant instruction has been forwarded to exchanges by the regulator.
In the beginning, exchanges are supposed to set a price corridor (both cap and floor values) of around 3% of the securities prices traded on Friday. The Bank of Russia advises to include highly liquid shares in the list of securities admitted for weekend trading to prevent elevated volatility in the market.
The Bank of Russia will monitor the trading activity of market participants, the quality of pricing, and a range of financial instruments traded on exchanges to evaluate the possibility of scaling up weekend trading and decide on additional restrictions, when necessary.