EAVEX Weekly

June 11, 2018
 

Kyiv-listed stocks suffered a steep sell-off last week after the Ukrainian Exchange, which is the main trading platform for equity investors, faced a ban on its operating software after Ukraine’s National Security & Defense Council (RNBO) imposed sanctions against software produced in Russia. Currently the UX has no software to replace the existing electronic trading systems provided by the Moscow Stock Exchange, which until 2014 was the UX’s owner. The Ukrainian Exchange said it is working on a solution to this issue and has launched a tender for procurement of a new trading and clearing platform. The UX index slumped by 3.9% to close at 1610 points on Friday as a result of market players’ concern regarding a possible suspension in all trading.