Russian Stock Market Has Suspended Trading

"The exchange, which calculates both Russia's benchmark indexes RTS and MICEX, said in a statement on its website that the trading was suspended due to "a problem in displaying orders and deals in the main stock market section."

http://www.reuters.com/article/2012/04/23/russia-stocks-suspension-idUSL5E8FNADK20120423

n/t

???

If it is true then it just sounds like they are having major technical issues not financial ones though if it lasts more than a day or two it could morph into something major I assume.

.....to believe Japanese about their nuclear troubles.

Less likely, probably. Those old Soviet ways of secrecy die hard.

Take blackberry for example, they have had some massive outages over the last few years.

If Russian technical mishaps seem too unbelievable to you, what then do you believe is really happening, ?

http://rts.micex.ru/n614/?nt=200

To generate the representative closing price and protect investors' rights the following schedule of trading was established:

9.50pm - 10.10pm – trading period in the Main trading mode of the Main trading session;
9.50pm - 10.10pm – execution of trades in the Negotiated trades mode and repo trades.
10.20pm – close of the main trading session.

The Exchange applied to the Bank of Russia for extension of operating time of the multivoyage payment processing system in order to minimize implications of the emergency situation.

Decisions taken by the Directorate of the Exchange and competent actions of Exchange's specialists allowed trading members to close their operations including cancel orders, perform clearing and fulfill obligations under executed trades even under the outage circumstances.

MICEX-RTS realizes the consequences that the outage could bring to the market and apologizes to trading members. The Exchange firmly intends to detect and examine causes of the disruption.

The cynic says there's always something more than face value occuring during the last twenty years...