NYSE, Nasdaq halt trading in stocks of Russia-based companies

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Traders work on the floor of the NYSE in New York

By John McCrank

NEW YORK – Nasdaq Inc and Intercontinental Exchange Inc’s NYSE have temporarily halted trading in the stocks of Russia-based companies listed on their exchanges, their websites showed.

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 https://www.reuters.com/world/europe/russias-isolation-deepens-ukraine-resists-invasion-2022-02-28, people familiar with the matter said.

The Nasdaq-listed stocks halted are: HeadHunter Group PLC, Ozon Holdings PLC, Qiwi PLC and Yandex. Nasdaq also halted Nexters Inc, which is based in Cyprus.

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.

“OTC Markets Group is monitoring and working with Federal regulators and will act in accordance with their guidance and directives as information becomes available,” the New York-based company said in an emailed statement.

The Depository Trust and Clearing Corporation, an industry-owned organization that processes nearly all U.S. securities transactions, also said it was assessing the potential impact of the Russia sanctions on the financial system and volatility.

“We are closely watching the situation in Ukraine and are committed to protecting market stability and providing certainty to our clients and the broader industry,” a spokesperson for the group said.

(The story makes clear that Nexters is based in Cyprus in third paragraph.)

(Reporting by John McCrank; Editing by Chizu Nomiyama, Will Dunham, Tomasz Janowski and Leslie Adler)

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