- However, the Moscow stock exchange has suspended trading amid the Russia Ukraine crisis on Thursday.
- A sharp fall in Russian stocks was noticed after a lot of countries imposed sanctions that targeted Russian banks and their debt markets.
- Indian investors can invest in Russian markets due to the tie-up between INX Global Access IFSC Ltd and Sova Capital.
- MOEX 10 has gone up 14.4% and MOEX is up 14.6% (11:48 AM MSK)
Indian investors can now invest in Russian markets, as India INX Global Access IFSC Ltd has tied up with Sova Capital, a London based emerging markets broker-dealer to offer the access. INX Global Access IFSC Ltd is a wholly-owned subsidiary of the Bombay Stock Exchange.
With this tie-up, Indian investors will get access to trading on Moscow Exchange (MOEX), which is Russia’s main trading venue for equities, derivatives, bonds, FX and money markets.
V Balasubramaniam, managing director and chief executive officer & CEO, India INX said, “We are happy to tie-up with Sova Capital in our effort to broaden the access of domestic investors to international markets. We strongly believe this partnership shall further increase the international proposition and attract greater participation on India INX platform.”
The tie-up with Sova Capital, which is an international clearing member of MOEX, will provide an outbound connection to all India INX Members and their clients to access all instruments on MOEX and trade the global markets directly from India.
Tatiana Primak, sales director, Sova Capital, said, “We are delighted to establish access to Indian investors via our tie-up with India INX to all segments of Moscow Exchange: equities, stocks, derivatives, FX SPOT. Today markets are integrated and India INX, as an offshore exchange, has made the first but critically important step by offering a unified marketplace that provides access to global markets directly from India. We strongly feel that our cooperation opens new prospects for mutually beneficial business relations between Moscow Exchange and India INX and further deepens financial ties between India and Russia.”
However, the Moscow stock exchange has suspended trading amid the Russia Ukraine crisis on Thursday.
“Moscow Exchange has suspended trading on all of its markets until further notice.” as per a release on its website.
A sharp fall in Russian stocks was noticed after a lot of countries imposed sanctions that targeted Russian banks and their debt markets.
