April 4, 2018 / 4:50 PM / 18 days ago

Moscow bourse considers offering access to 50 foreign stocks: sources

MOSCOW, April 4 (Reuters) - The Moscow Stock Exchange is discussing giving brokers by the end of this year remote access to shares in 50 Western companies trading on other exchanges, according to two sources employed by companies involved in decision-making at the bourse.

The exchange is also discussing the possibility of extending its trading session until midnight in Moscow (2100 GMT) so brokers can trade in the foreign stocks, said the two sources, who are from companies on the Moscow bourse’s equity market committee.

One of the sources said the proposal is to offer trading in shares of the 50 most liquid U.S. stocks.

They would not be traded directly in Moscow, but the Moscow bourse would set up a mechanism to allow brokers on the exchange to buy and sell shares in companies traded on for example, NASDAQ or the New York Stock Exchange.

A spokesman for the Moscow bourse told Reuters: “The exchange is discussing various options with market participants. An evening session would be needed if we decide to trade in foreign shares. For now this plan is at the stage of discussion.” (Reporting by Zlata Garasyuta Writing by Christian Lowe and Polina Nikolskaya Editing by Gabrielle Tetrault-Farber)

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