MOSCOW (Pakistan Point News / Sputnik - 09th March, 2020) The Moscow Stock Exchange will take action on Tuesday to expand the boundaries of price corridors for the most liquid assets amid significant market volatility, according to a statement released by the exchange on Monday.
"Taking into account the current price dynamics and volatility within the most liquid assets (Currency, liquid stocks, commodities, derivatives on indices), from the start of trading on March 10, the exchange will establish extended borders on price corridors, the values of which will be determined based on the market situation in the morning before the opening of trading on March 10," the statement read.
The Moscow Stock Exchange noted that it will act in strict accordance with all regulations that govern trading. This will ensure the continuity of trading under any market conditions.
"In all exchanges ... when the price of the boundaries of the established price range [trade limits] is reached, they are automatically expanded, providing market participants and their customers the opportunity to complete transactions in conditions of high volatility," the statement read.
Stock markets across the world tumbled on Monday, amid fears over the coronavirus disease, officially named COVID-19, and the fall in global oil prices after the OPEC+ deal collapsed. European markets fell by as much as 11.17 percent during the course of the day's trading.
