The Russia-Ukraine War: Latest News – The Wall Street Journal

Euroclear, a company that provides vital plumbing for financial markets, is set this week to prevent investors from clearing the buying and selling of ruble-priced stocks, bonds and other securities traded within and outside Russia.

This plan, which takes effect Thursday, is a response to European sanctions against Russia. It follows Euroclear’s announcement Friday to end clearing of ruble-priced trades done within Russia. Clearing and settling is a necessary cog to trade securities by ensuring buyers receive their purchased security and sellers get paid.

Based in Belgium, Euroclear clears and settles trades of stocks, bonds and other securities for a range of European exchange operators including Euronext NV and London Stock Exchange Group PLC as well as leading investment banks, treasuries, global custodians, and central banks.

It has used VTB, a big Russian bank, as its account operator to clear trades of ruble-priced securities. But that relationship ends Tuesday under the…

Read Full Story: https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-02-28

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