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Ukrainian Exchange for first time admits to trading deliverable futures on foreign shares

KYIV. Sept 14 (Interfax-Ukraine) – JSC Ukrainian Exchange (UX, Kyiv) from September 14 for the first time allowed for trading deliverable futures on securities of a foreign issuer, which became the shares of Freedom Holding Corp. (ISIN US3563901046), according to the UX website.

According to the minutes of the UX board meeting dated September 13, the volume of contracts is 10 shares, they will be monthly, the first is FRHC-10.21 with a delivery date of October 18 and the last trading day on October 13 this year.

In accordance with it, the minimum price step is UAH 2.67.

Earlier, Business Development Director at the Ukrainian Exchange Oleksiy Sukhorukov told Interfax-Ukraine that in July of this year UX agreed with the National Securities and Stock Market Commission on specification of futures contracts for foreign securities and natural gas. Speaking about the instruments themselves, he noted that in the case of foreign securities, we can talk about any foreign securities, but it will be easier to launch contracts for the foreign securities, admitted to circulation in Ukraine.

Freedom Holding Corp is a public American company registered in the United States, the parent structure of the investment company Freedom Finance Ukraine. The holding’s shares are traded on the NASDAQ stock exchange. The holding’s net profit for the first quarter of fiscal year 2022 (second quarter of 2021) was $52 million, almost 2.2 times more than $24 million last year. The holding also includes a Russian broker and Freedom Finance Bank, Kazakh broker JSC Freedom Finance, Freedom Finance Cyprus Limited, Freedom Finance Germany TT GmbH., and Freedom Finance LLC (Uzbekistan).

The Ukrainian Exchange was founded on May 15, 2008 by the leading participants in the Ukrainian securities market together with the Russian stock exchange RTS, which later merged with the Moscow Exchange. UX was the first to launch the order-driven market, internet trading, the repo market, settlements through the central counterparty and the derivatives market. However, in the middle of July 2018, the exchange suspended trading in all securities in the mode of orders due to the ban on using the Moscow Exchange software in its activities.

In March 2019, UX announced the resumption of trading on the order market on the new platform. Currently, the exchange is one of the three largest in the Ukrainian market.