U.S. Rep. Bill Huizenga (R-MI) has voiced his support for the decision by the New York Stock Exchange (NYSE) and Nasdaq to temporarily halt trading in the stocks of Russia-based companies listed on their exchanges.
“The move by the New York Stock Exchange and Nasdaq to halt trading of Russia-based companies is a good start. These publicly traded companies should not benefit from our free and fair markets. I call on all U.S.-based exchanges to permanently suspend trading of Russian companies until Vladimir Putin ends his unlawful and unprovoked war on Ukraine,” Huizenga, ranking member of the House Investor Protection, Entrepreneurship, and Capital Markets Subcommittee, said.
Specifically, the NYSE halted the trading of Russian telecom operator Mobile TeleSystems PJSC, mining, and steel company Mechel PAO and online real-estate classifieds company Cian PLC on Monday. Further, Nasdaq halted the trading of several other Russian companies, including search-engine operator Yandex NV and online retailer Ozon Holdings.
In addition, the OTC Markets Group, which provides price information for over-the-counter securities, and the Depository Trust and Clearing Corporation (DTCC), which processes nearly all U.S. securities transactions, both said that they would seek guidance on the matter from federal regulators while continuing to monitor developments in Ukraine.