The Committee for the Development of the Foreign Securities Market of the St. Petersburg Exchange approved the trading parameters for the weekend. Bidding will take place from 10 to 19 hours Moscow time, but no start date has been announced yet..
Securities will be allowed to trade on weekends, which are traded in the morning session. On 10 February 2022 Listed 134 U.S.-listed shares and depositary receipts, one is listed on the London Stock Exchange, five - listing in Germany, as well as seven Russian securities.
To limit volatility and non-market price movements, the exchange has set narrower boundaries for price fluctuations, than those, what works on weekdays. Because of this, a significant change in the price of securities over the weekend will not be possible., which will reduce the risk for investors.
Trading Features
The exchange will not process corporate events on weekends. It concerns, among other things, dividends and splits.
Applications, not executed on the exchange, will be filmed at the end of each weekend. There will also be no closing auction on Saturdays and Sundays.
Clients, registered on holiday, will be able to conclude transactions on the day of registration. Weekend market data will be available to all bidders.
Peculiarities of clearing and settlements
Delivery of securities and settlements on weekends are not carried out. Trading on Saturday and Sunday will be part of the additional Monday morning trading session, not on separate trading days.
For example, if the client makes a deal on the instrument with T+2 trading mode on Saturday, then the settlements will take place in two trading days, on Wednesday, - as if the deal was closed on Monday. A deal made on Friday will be settled on Tuesday.
Transaction fees, imprisoned on weekends, will be blocked. They will be written off in the first clearing session after the weekend.
Finally, on weekends, the exchange will not recalculate settlement prices and risk parameters, as well as presenting margin calls, that is, to demand to add money to the account.
