Moscow Exchange to List 20 New International Stocks for Trading

Moscow Exchange has announced it will add 20 international stocks to trading, including shares from major US-listed companies.

Story Highlights

  • The new set of international shares will be available for trading on June 1, 2021.

Moscow Exchange (MOEX), the largest exchange group in Russia, has announced it will add 20 international stocks to trading, including shares from major US-listed companies. Starting from June 1, 2021, MOEX will include shares from Western Digital, Zoom, Virgin Galactic, among others, said the press release.

With the inclusion of the new portfolio of international stock products, the Moscow Exchange will reach a total of 144 within its offerings. That said, MOEX plans to add more companies based on demand from brokers, asset managers and banks, according to the announcement. The exchange has been offering international equities since 2020, which can be traded in the main and after-hours trading sessions.

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Per the dividends, MOEX clarified it would be set in the issuer’s currency, for example, in US dollars for US securities. Also, non-institutional investors will be able to submit a Form W-8 to check their eligibility for a reduction or exemption from tax on the dividends paid.

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Before introducing the new set of 20 international stocks, Moscow Exchange launched trading in the 50 most liquid shares from the S&P 500 Index.

Acquisition of an E-commerce Platform Provider

The exchange has been witnessing some business activities ahead of the stocks mentioned in the above listing. Finance Magnates recently reported that MOEX acquired a 70% stake in the e-commerce platform provider, INGURU without providing details on the transaction’s financial terms. However, the largest Russian exchange group expects to increase its stake in the firm to nearly 100% in the next five years.

Also, in April, Moscow Exchange revealed that its operating income jumped 7.2% in the first quarter of 2021, compared to the same period in 2020. The total net profit reached RUB 6,835.3 million in Q1 of 2021, which is a jump of 15.8% versus the Q1 of 2020. Furthermore, its FX volumes hit RUB 31.9 trillion, which is up by 33% compared to February 2021.

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