NYSE And Nasdaq Ban Stock Trading Of Russian Companies

NYSE and Nasdaq ban stock trading of Russian companies.

Nasdaq Inc (NDAQ.O) and Intercontinental Exchange Inc (ICE.N) NYSE now temporarily halt trading of shares of Russia-based companies listed on their exchanges amid the Russo-Ukraine war and US sanctions imposed on Russia

People familiar with the matter said the ban was imposed due to regulatory concerns as exchanges wanted to be more clear about the economic sanctions being imposed on Russia for the invasion of Ukraine.

Stocks listed on Nasdaq—Nextors Inc., Headhunter Group plc (HHR.O), Ozone Holdings plc (OZON.O), Qiwi plc (QIWI.O), and Yandex (YNDX.O) have been barred.

At the same time, NYSE-listed stocks- Cian PLC (CIAN.N), Mekel PAO, and Mobile Telesystems PAO have also been banned.

NYSE owner ICE also said it would not issue any new debt from banned Russian companies to its fixed income index, and that existing debt affected by it would be liquidated on March 31.

Additionally, OTC Markets Group (OTCM.PK), which provides price information for more than 12,000 over-the-counter securities, said it seeks regulatory information on sanctions on Russia and the 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 instructions as the information becomes available,” the New York-based company said in an emailed statement.

At the same time, the Depository Trust and Clearing Corporation, which processes almost all US securities transactions, also said that the potential impact of sanctions on Russia was being assessed.

A spokesman for the group said, “We are watching the situation in Ukraine closely and are committed to protecting the stability of the market and providing certainty to our customers and the wider industry.”

GDP data: The country’s economy grew by 5.4 percent in the December quarter, growth was less than expected.

GDP figures came out on Monday. According to official data released today, the Indian economy grew at 5.4 percent in the October-December quarter of 2021-22.

According to the data released by the National Statistical Office (NSO), the GDP grew by 0.7 percent in the same period of 2020-21.

In its second advance estimate, the NSO has projected a growth of 8.9 percent in 2021-22.

In its first advance estimates released in January, it had projected a growth of 9.2 percent for 2021-22, as against a contraction of 6.6 percent in 2020-21.

The economy had grown by 20.3 percent in the first quarter of the current fiscal due to the low base effect.

GDP grew 8.5 percent in the second quarter. China’s economy grew by 4 percent in October-December 2021.