Equities Market / Saint-Petersburg Exchange

Equities Market

Russian Equities

In June 2014 Saint-Petersburg Exchange admitted to trading top liquid stocks of major local companies implementing a fundamentally new market model for the Russian equities market.

The point of this project is to create additional liquidity on the domestic market for retail and institutional investors.

The extra liquidity is poured into the market by market-makers placing orders. In line with the newly implemented model HFT traders can act as market-makers exclusively, entering orders for additional volumes into the exchange’s order book, which is one of the distinctive features of the new market. This approach turns HFT traders into liquidity makers and prevents them from stripping liquidity off the market.

SPB Exchange offers trading in Russian blue chips on a regulated market with a T+2 settlement cycle. Settlement of all trades is guaranteed by Clearing Centre MFB acting in the capacity of the Central Counterparty.

One of the crucial advantages of our market is a rock-solid risk management system that was developed by the leading risk professionals based on their extensive experience in the field of exchange risk control systems. The main benefits of the system are:

  • Efficient netting of obligations into a single position across all instruments types;
  • Multicurrency support for accounting of assets and obligations in various currencies;
  • Velocity – risk checks with the lowest latency across the market.

Trading schedule

Trading mode

Open (MSK)

Close (MSK)

Main trading mode

10:00

18:40

Negotiated trades mode

10:00

19:00

International Equities

In November 2014 Saint-Petersburg Exchange launched trading in 55 stocks from the S&P 500 Index list. This has become an important milestone in the development of the Russian financial market and enabled local private investors to diversify their portfolios by adding the world’s leading companies from all economic sectors.

Trades are executed on a regulated market with settlement on T+3 guaranteed by Clearing Centre MFB acting as the Central Counterparty. Clearing Centre MFB is a member of FATCA. Final clearing takes place at 19:00 MSK, and assets delivery is carried out at 16:00 MSK.

Trading schedule*

Trading mode Settlement code Main trading session Evening trading session
Open (MSK) Close (MSK) Open (MSK) Close (MSK)
Main trading mode Continuous auction T3 10:00 19:00 19:00 23:00
Closing auction Orders collection T3 10:00 19:00 19:00 22:30
Price determination - - 22:30 02:30 (next calendar day)
Execution of trades - - 23:00 02:45 (next calendar day)
Negotiated trades mode T1, T2, T3 10:00 19:00 19:00 23:00
T0 10:00 18:30 - -
Directed repo trades mode Т0Т1, T0T2, T0T3 10:00 18:30 - -
Т1Т2, T1T3, Т2Т3 10:00 19:00 19:00 23:00

*Daylight saving time in the USA

Through our corporate website we provide the Russian investors community with access to analytics and research as well as information on the upcoming corporate events of the listed companies, including by publishing hyperlinks to websites where such information is to be disclosed in accordance with the rules of a foreign exchange where the securities were listed originally.

Driven by a vivid interest from Russian investors, SPB Exchange is working on expanding the list of securities admitted to trading on SPB Exchange.