The exchange will possibly terminate all its services in the country from April 29.
However, Nasdaq did not officially announce its suspension of Russian services.
Nasdaq exchange in the United States and the Nordic countries will stop offering services to customers from Russia from April 29, according to a letter sent by Danish brokerage Saxo Bank to its Russian customers.
As reported by Russian media RBC, the brokerage company detailed that access to all the services offered by the exchange will be stopped for Russians.
Nasdaq is a major American stock exchange operator and financial market data service provider. In addition, it operates locally in Sweden, Denmark, Finland and Iceland. Despite Saxo Bank’s warning, the American exchange did not publicly announce any decision on Russian operations.
The Danish broker informed its clients on profile chat on Telegram that Russian residents will not have access to current or pending market data from the NASDAQ exchanges from the specified date. Russian clients with open positions will continue to receive pending quotes until they are closed.
Further, Nasdaq will not allow new subscriptions to its data services and will automatically cancel the active ones.
Impact on Saxo’s Services
Saxo clarified that its clients from Russia will be unable to make any transactions on Nasdaq after the exchange terminates its services for them. Clients need to contact Saxo even if they only want to close positions, and the broker will close them manually.
Saxo Bank offers trading services with foreign exchange and other popular asset classes as well. However, it is not regulated locally in Russia by the country’s central bank. The broker onboarded Russians on its international platform.
Earlier, Saxo Bank announced that it is going to terminate its services for all its clients in Russia and Belarus from June 6, 2022. That decision was taken in response to Russia’s invasion of Ukraine. The broker urged its clients from the two clients to close their positions by the deadline, else they will be closed automatically, and the refund will be processed on the origin of deposits.
Nasdaq exchange in the United States and the Nordic countries will stop offering services to customers from Russia from April 29, according to a letter sent by Danish brokerage Saxo Bank to its Russian customers.
As reported by Russian media RBC, the brokerage company detailed that access to all the services offered by the exchange will be stopped for Russians.
Nasdaq is a major American stock exchange operator and financial market data service provider. In addition, it operates locally in Sweden, Denmark, Finland and Iceland. Despite Saxo Bank’s warning, the American exchange did not publicly announce any decision on Russian operations.
The Danish broker informed its clients on profile chat on Telegram that Russian residents will not have access to current or pending market data from the NASDAQ exchanges from the specified date. Russian clients with open positions will continue to receive pending quotes until they are closed.
Further, Nasdaq will not allow new subscriptions to its data services and will automatically cancel the active ones.
Impact on Saxo’s Services
Saxo clarified that its clients from Russia will be unable to make any transactions on Nasdaq after the exchange terminates its services for them. Clients need to contact Saxo even if they only want to close positions, and the broker will close them manually.
Saxo Bank offers trading services with foreign exchange and other popular asset classes as well. However, it is not regulated locally in Russia by the country’s central bank. The broker onboarded Russians on its international platform.
Earlier, Saxo Bank announced that it is going to terminate its services for all its clients in Russia and Belarus from June 6, 2022. That decision was taken in response to Russia’s invasion of Ukraine. The broker urged its clients from the two clients to close their positions by the deadline, else they will be closed automatically, and the refund will be processed on the origin of deposits.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
FXCubic Integrates Devexperts' DXtrade to Enhance Broker Solutions
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa