From 2012 Russian stock exchanges will work during New Year’s holidays. The stock exchanges will be open from January 3 up to 6 and from 8 up to 10, unless these days are weekend.
“Currency interventions will be made if necessary. Both stock exchange and depositary infrastructures will be working as usual except on weekends,” said Alexei Ulyukayev, first deputy chairman of the central bank’s supervisory board.
January 7 is a Christmas Day and a state holiday, that is why the exchanges will be off.
In the end of September 2011 the National Stock Exchange Association supported the initiative of RTS and MICEX and appealed to the Ministry of Finance not to close stock exchanges for the New Year’s holidays. This will let the Russian participants of the finance market to stay in the equal conditions with their foreign counterparts who don’t have such long holidays for New Year.
Author: Irina Fomina