A number of large brokers will not trade on Mosbirzh on weekends on March 1 and 2
On the upcoming Moscow exchange trading this weekend (MOOEX: MoEx) there will be no number of large brokers. Due to the compressed terms for the launch of the « experimental regime » of the investment companies do not have time to prepare their infrastructure. In addition, not all investors, especially institutional ones, are going to trade shares without relaxation. However, the Moscow Exchange is forced to accelerate the actions of the competitor, St. Petersburg exchange, which launched similar auction a month ago.
According to the Kommersant survey, not all major professional participants are ready to join the Moscow Exchange on the “weekend” of the Moscow Exchange from March 1. Finams, Alfa-Bank and BCS are ready to provide access to customers. For various reasons, Solid Broker, GO Invest, Broker's number and another large brokerage company will not connect. Sberbank Investments reported that they were “at the final stage of preparation for exchange trading on non -working days”, in VTB they did not respond to the Kommersant's request.
The Moscow Exchange launches bidding on weekends and holidays from March 1 in the “experimental” mode. On Saturday, bidding will be held from 14:10 to 19:00, on Sunday – from 10:00 to 19:00. At the first stage of the transaction, it will be possible to conclude with shares from the index of the Moscow Exchange (IMOEX), as well as shares of Segezhi, Ix 5, Element and St. Petersburg Exchange. To prevent the growth of volatility, narrow price ranges (± 3% of the closing price of the previous trading day) are established.
Initially, the exchange planned to launch tenders at the end of the second quarter (See “Kommersant” from January 28), however, from February 1, such auction was launched by St. Petersburg Exchange (See “Kommersant” from February 3). According to Kommersant’s source in a large brokerage company, the leadership of the Moscow Exchange did not want to give a competitive advantage to another fund. According to him, even departments did not support the initiative to launch trading earlier, since the site at that time did not have the necessary technical readiness. The Moscow Exchange noted that « the experimental regime also implies a phased connection of market participants to bidding as they are ready. » On the St. Petersburg exchange, they did not respond to the request of Kommersant.
Brokers also objected to the accelerated launch of a new service. “We, as a broker, were against such compressed terms to minimize possible mistakes and really prepare well,” said Igor Pimonov, director of the BCS Investment BCS BCS. Everything happened quite fleetingly and unexpectedly for many professional participants, so “someone may not have time to prepare their internal systems for trading on weekends,” said Dmitry Lesnov, deputy general director of the Finams Business Business Business. “We were preparing to launch trading in the summer,” explains Sergey Rybakov, chief operating director of GO Invest.
For brokerage companies, the launch of trading on weekends is not too profitable.
“Access to the trading and accounting infrastructure of the broker on weekends will entail a lot of costs,” says Vladimir Shumakov, director of the Department of Trade of Trade of Trade of the investment company. To organize trading during non -working hours, brokers will have to completely review the staffing and mode of operation, increase the FOT for additional hours and optimize the load on the equipment, explained to the Solid Broker. Kommersant's interlocutors estimate the increase in 10-50%, the total costs – several million rubles per month. Trade on weekends “at best will go to zero”, but “most likely, the costs of organizing the process of trading revenues,” Kommersant source in a large brokerage company notes.
Moreover, brokers do not yet see the general demand of customers. According to the survey in the Alfa-Bank TG channel, only 38% of customers showed interest in bidding on weekends. Now their number is estimated at thousands of people, “however, over time we expect their number to grow,” said Andrei Nedbailo, head of the retail investment business of Alfa Bank. “Most of our customers did not express their desires to trade on the weekend, but for some customers this is interesting, we must take into account their interests,” Mr. Pimonov explained.
The main risks of such trading are in insufficient liquidity. In addition, as noted in the Solid Broker, the lion's share of the stock market turnover is a deal of professional participants and institutional investors, « and they work in the standard classic banking day. »
