Investors can sue Moscow Exchange for May WTI prices of minus $38

MOSCOW, Apr 24 (PRIME) -- Investors are preparing a collective court case against the Moscow Exchange for closing the May futures for the WTI oil blend at minus U.S. $37.63 per barrel, and demand compensation for the losses, an official of legal company Milton Legal told PRIME on Friday.

The official said that the investors sustained serious losses due to the unpreparedness of the Moscow Exchange to trade futures with negative prices. "The trade participants were fully deprived of the possibility to influence the deal, to close their positions or launch a stop loss," the official said.

The negotiations with the Moscow Exchange on annulment of the results of the trade were unsuccessful, the representative said.

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