Central Bank of Russia Orders Brokers to Suspend Short Selling

The Central Bank of Russia today issued a notice, ordering brokers to suspend short selling in the Russian financial market.

"Due to the current situation in the financial market and in order to protect the rights and legitimate interests of investors in the financial markets, reduce risks and limit excessive volatility, the Bank of Russia ordered brokers to suspend short selling on the exchange and over-the-counter market,"the bank noted.

The measures are effective February 24, 2022, 11am (Moscow time). The ban is valid until further notice.

Multiple big events occurred in the Russian market today. Russia' s largest exchange group Moscow Exchange (MOEX) today announced that it has suspended trading on all of its markets until further notice.

In addition, the central bank said it would commence interventions in the Forex market. The regulator will also carry out operations for additional provisions of liquidity to the banking sector.