Moscow Exchange (MOEX) suspended trading on the Forex and precious metals market for more than an hour today, with the extraordinary situation blamed on technical problems.
Trading on the foreign exchange and precious metals markets was halted today at 11:26 (Moscow Time) and was resumed at 12:40 (Moscow Time).
In a subsequent announcement, the Exchange explained that the suspension of trading was due to technical problems with the service that manages risk balances between the derivatives and the Forex markets. This service is temporarily shut down until all problems are sorted out.
The Forex and precious metals markets are two of the fastest growing segments at the Moscow Exchange. These two markets were the drivers of the Exchange’s trading volumes in February 2015. As LeapRate’s earlier article stated, Forex volumes at the venue rose by massive 37% in the second month of the year against levels seen in January 2015.
Trading on the other markets of the Exchange was not affected by the technical glitch.