Nasdaq, NYSE Stop Trading Stocks Of Russia-Based Firms

Nasdaq Inc. and Intercontinental Exchange Inc.'s NYSE have halted trading in the stocks of Russia-based companies listed on their exchanges, their websites showed, John Mccrank reported for Reuters.

Photo Insert: The Nasdaq-listed stocks halted are Nexters Inc., HeadHunter Group PLC, Ozon Holdings PLC, Qiwi PLC, and Yandex.

The halts were due to regulatory concerns as the exchanges seek more information following economic sanctions imposed on Russia because of its invasion of Ukraine, people familiar with the matter said. The Nasdaq-listed stocks halted are Nexters Inc., HeadHunter Group PLC, Ozon Holdings PLC, Qiwi PLC, and Yandex.

Trading halts for disclosure of material information on Nasdaq are instituted to ensure that "material information is fairly and adequately disseminated to the investing public and the marketplace, and to provide investors with the opportunity to evaluate the information in making investment decisions," according to the exchange's rulebook.

The NYSE-listed stocks halted were Cian PLC, Mechel PAO and Mobile TeleSystems PAO.

NYSE-owner ICE also said it would not add any new debt issuances from sanctioned Russian entities to its fixed income indices, and that affected existing debt would be removed on March 31.

Separately, OTC Markets Group, which provides price information for more than 12,000 over-the-counter securities, said it was seeking regulatory information regarding the sanctions on Russia and their impact on the trading of Russian American depository receipts.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic