Late-Night Trading Looms as Winter Takes Toll: Russia Overnight - Bloomberg:
"While Russia’s elimination of its annual winter clock change may be providing the intended health benefits to farmers and milk cows, the move is pushing OAO Moscow Exchange to search for ways to regain lost stock trading.
The exchange is considering extending the market’s close by an hour to 7:40 p.m. Moscow time so there’s more overlap with the U.S. day, giving American investors more time to trade in Russia, Chief Executive Officer Alexander Afanasiev said. Russian stocks traded in New York yesterday rose 0.5 percent while the benchmark Micex Index slipped 0.1 percent in Moscow.
Exchange officials have stepped up efforts to boost trading in Moscow, where volumes averaged 50 percent of Russian stock trading in London last year, data compiled by Bloomberg showed. The bourse transitioned to a two-day stock settlement in September and Russian equities are set to become available through Euroclear Bank SA next year. The ending of winter time, which then-President Dmitry Medvedev said was aimed at helping the biorhythm of people and milk cows, hurt those efforts."
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