St Petersburg Exchange Starts Trading Shares in 100 U.S. Companies

The Saint-Petersburg Exchange said last week it has added 100 shares in U.S. companies worth a total $364.4 billion to its trading platform, Reuters reported.

The stock exchange said it also planned to start trading shares of ride-hailing giant Uber Technologies in the third quarter. The company first listed its shares in the United States earlier this year.

The Saint-Petersburg Exchange started trading U.S. stocks in the S&P 500 index in 2014.

With the addition of shares in 100 U.S. companies last week, the exchange now trades nearly 1,000 American shares, depository receipts and bonds.

Deals are concluded under Russian law and settled in dollars. U.S. securities are held by Russia’s Settlement Depository Company and can be transferred to any depository worldwide.

The bourse’s bigger domestic rival, the Moscow Exchange, said last year it wanted to start trading U.S. shares but later postponed its plans.

The St Petersburg stock exchange was founded on January 31, 1991, and it is now the third most active stock exchange in Russia by volume, and the largest outside of Moscow.