The Moscow exchange filed lawsuits almost 52 million rubles

Private investors has submitted to Arbitration court of Moscow two claims to the JSC “Moscow exchange” for a total amount of 51.5 million rubles due to the suspension of trading with oil futures Light Sweet Crude Oil in April 2020, as well as the calculation of the contract price minus $37,63 per barrel, reports “Interfax”.

21 APR exchange took the decision to suspend trading futures contract day trading session on 21 April 2020 and on the execution of a futures contract at a price of minus $37,63 per barrel (this corresponds to the price at the end of trading on the previous day of trading on the exchange NYMEX).

As explained then Masuria, trading was suspended to “prevent the occurrence of additional adverse effects from trading participants and their clients in connection with the unprecedented drop in the price of the relevant contract trades on the NYMEX on April 20”.

However, the plaintiffs demand to recognize the illegal actions of the exchange in respect of tendering contracts for the oil Light Sweet Crude Oil, the unchanged size of the margin on these futures, as well as the unchanged lower boundary prices and the non-resumption of trading in these contracts. The plaintiffs also disagreed with the expiry price of the futures price minus $37,63 per barrel.

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