Russia Approaches T+2

The Moscow Exchange plans to complete the migration to a T+2 settlement cycle on Monday, Sept. 2 2013.

From this date the exchange will make the following changes: all equities, the Russian Depositary Receipts (RDRs), mutual-fund units, mortgage-participation certificates (MPCs) and foreign ETFs will be traded only in T+2 trading mode; all bonds (including OFZs) will continue to trade in all modes: REPO, the negotiated deals and the main trading mode T+0 – without a central counterparty; all OFZ will be available to trade in both T+2 and T+0 trading modes as Aug. 27 2013.

The launch of the final stage of the T+2 migration will contribute to the development of the Russian trading floor and the highly anticipated reformation of its disjointed capital markets.