Moscow Exchange says to allow negative futures price from July 6

MOSCOW, Jun 30 (PRIME) -- The Moscow Exchange will support negative prices on the futures market from July 6, the trading floor said in a statement on Tuesday.

"The Moscow Exchange will launch a new version of trade and clearing system on the futures market that would support negative prices from July 6,” the bourse said.

“Support of negative prices will be available for two instruments of the futures market at the first stage -- natural gas futures (contract code NG) and Light Sweet Crude Oil (CL contract)."

On April 20, the WTI futures fell to the negative zone for the first time in history, reaching minus U.S. $40.32 on the Moscow Exchange. The bourse suspended trading in this security on April 21 because the broker and clearing systems were unready and took the expiration price from the New York Mercantile Exchange (NYMEX).

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