Cboe suspends trading in VanEck Russia ETFs
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Chicago Board Options Exchange (CBOE) Global Markets hangs at its headquarters in Chicago, Illinois, U.S., September 19, 2018. REUTERS/Michael Hirtzer
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March 4 (Reuters) – Exchange operator Cboe Global Markets (CBOE.Z) on Friday declared a regulatory halt to trading in ETF VanEck Russia (RSX.Z), which has fallen since the invasion of Ukraine by Russia last week.
Cboe also said it was halting trading in the much smaller ETF VanEch Russia Small-Cap (RSXJ.Z).
“Cboe BZX Exchange has declared a regulatory halt on RSX and RSXJ that applies to all U.S. stock exchanges. Following this halt to trading on RSX and in accordance with its rules, trading of options on RSX on exchanges Cboe options has been discontinued,” a Cboe spokesperson said in an email.
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Following Russia’s invasion of Ukraine, Western financial sanctions, and Moscow’s controls on money coming in and out of Russia, the VanEck Russia ETF fell more than 60% in the past week. , including a drop of 2.4% on Friday.
On Wednesday, VanEck announced that it was temporarily suspending the creation of new shares of its main Russian ETF. Read more
Investors traded about $88 million worth of shares in the fund on Friday, compared to an average of $309 million per session over the past 30 days, according to Refinitiv data.
Following its large losses, the fund has a market capitalization of around $300 million, according to Refinitiv.
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Reporting by Noel Randewich Editing by Chris Reese and Sandra Maler
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