Moscow Exchange to delist FinEx funds on August 9 – Kommersant

From August 9 Moscow Exchange rules out ETF FinEx from the list of securities admitted to trading. In the FinEx group declaredthat the delisting will not harm investors.

The delisting is being carried out in connection with the termination of contracts with the Moscow Exchange at the initiative of the ETF provider. “Cancellation of the agreement is the basis for the delisting of securities,”— explains Moscow exchange.

“The implementation of this procedure is due to the interests of investors… The FinEx Group expects that the termination of business relations with the Moscow Exchange Group will increase the likelihood of obtaining a positive decision on issuing a license from the Belgian Treasury,”— commented Finex group.

Group earlier analyzedwhat it needs to do to obtain a license from the Belgian Treasury. According to FinEx, it had to “explicitly demonstrate the desire” to terminate business relations with the Moscow Exchange group, which includes the National Settlement Depository (NSD). In June 2022, blocking sanctions against him introduced European Union.

NSD is the central depository of the Russian Federation and services both securities stipulated by the Federal Law “On the Central Depository” and other Russian and foreign issue-grade securities.

“The purpose of applying for a license is to ensure that investors have the opportunity to return their funds in the current geopolitical conditions,” FinEx explained.

December 2, 2022 FinEx group of companies applied to the Belgian Ministry of Finance to obtain permission for operations with shares of funds through NSD.

Maria Fedotova