Home News Cboe halts trading in VanEck Russia ETFs By Reuters

Cboe halts trading in VanEck Russia ETFs By Reuters

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Cboe halts trading in VanEck Russia ETFs By Reuters



© Reuters. The Chicago Board Options Exchange (CBOE) Global Markets logo hangs inside its headquarters building in Chicago, Illinois, U.S., September 19, 2018. REUTERS/Michael Hirtzer

(Reuters) – Exchange operator Cboe Global Markets (NYSE: ) on Friday announced a suspension of trading in the VanEck Russia ETF, which has been in decline since Russia invaded Ukraine last week.

Cboe also said it would stop trading the much smaller VanEch Russia Small-Cap ETF.

“Cboe BZX Exchange has announced a regulatory suspension of RSX and RSXJ in effect on all U.S. stock markets. Due to the suspension of RSX and in accordance with its rules, trading of RSX options on Cboe Options Exchange has ceased,” a Cboe spokesperson said in an email Say.

The VanEck Russia ETF has lost more than 60% in the past week, including a 2.4% drop on Friday, following Russia’s invasion of Ukraine, Western financial sanctions and Moscow’s grip on money flowing in and out of Russia.

On Wednesday, VanEck said it would temporarily suspend new offerings of its main Russia ETF.

Investors traded about $88 million worth of fund shares on Friday, down from an average of $309 million per trading day over the past 30 days, Refinitiv data showed.

The fund has a market capitalization of about $300 million after a massive loss, according to Refinitiv data.

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