Can't buy Russia ETF?

[MichealKnight]

Tried RSX and ERUS - wouldn't accept my orders.

Has America forbidden buying off Russian themed ETFs?

 

[MichaelB]

ERUS traded over 5 million shares today, about 10 times the normal volume. The market price closed at $8.06, and the last published NAV was $0.93. If you could not buy it may have been your broker.

 

[qwerty3656]

"Wall Street's Financial Regulatory Authority halted over-the-counter trading in several Russia-based companies, including the American depository receipts of Sberbank Russia, Gazprom Neft PJSC, and PJSC Lukoil, the regulator's website showed.

Nasdaq Inc ( NDAQ ) and Intercontinental Exchange Inc's ( ICE ) New York Stock Exchange earlier this week had halted trade in Russia-based company stocks."

https://www.fidelity.com/news/article/top-news/202203031452RTRSNEWSCOMBINED_KCN2L02LB-OUSBS_1

 

[MichealKnight]

Must be broker like you said

ERUS traded over 5 million shares today, about 10 times the normal volume. The market price closed at $8.06, and the last published NAV was $0.93. If you could not buy it may have been your broker.

Just tried again, market price to put in an order for tomorrow. It just says "Opening orders for this security cannot be accepted at this time"

Selective morality of convenience.

Oh well. Darnit I feel this would've been a nice moneymaker too.

 

[youbet]

Just tried again, market price to put in an order for tomorrow. It just says "Opening orders for this security cannot be accepted at this time"

Selective morality of convenience.

Oh well. Darnit I feel this would've been a nice moneymaker too.

Will your broker accept a limit order?

 

[NW-Bound]

While Russian stocks are not traded on any stock exchanges, Western as well as the Moscow exchange, some ETFs still trade today.

Beware that as constituents of these ETFs were traded for pennies before trading stopped on them, the ETFs are being traded at way more than the sum of their components.

 

[MichealKnight]

e-trade

Will your broker accept a limit order?

I tried both market and limit.

No dice.

Not the end of the world, but would've loved to do it from an investing slash gambling standpoint

 

[njhowie]

Just tried again, market price to put in an order for tomorrow. It just says "Opening orders for this security cannot be accepted at this time"

Selective morality of convenience.

Oh well. Darnit I feel this would've been a nice moneymaker too.

Brokers may impose these kinds of restrictions as they feel inclined to. Generally their reasoning is that they believe it is too risky. I've had arguments with my broker in the past when they have done this when I've wanted to trade some pink sheet company which they've flagged for one reason or another. I can appreciate their point. However, at the end of the day, it is my money, I have completed whatever waivers and documents they require, so they should not restrict my trading if I am willing to accept any and all consequences. If they can't/won't execute the order(s), I can find another broker who will.

 

[MichealKnight]

Thanks Howie and all who replied.

I guess in the end - it's their brokerage, they certainly can make the rules. But I do feel its sort of paternalistic. If I'm allowed to invest money that is solely mine - I fully get I'm taking risks. I" won't pursue it, I don't know who to call, and Im not a big stock market guy anyways but daring, just this once I'd have allocated 3% here, which is a huge allocation for me-

 

[Texas Proud]

I know that Fidelity limited the ability of me buying some preferred shares online...


However, I could call and place a verbal order and they would read some info about the investment and take the order... they did not charge for the phone order (well, they did but then refunded the money)....


If you really want it, give your broker a call...

 

[aja8888]

Get a Robinhood account...they will sell you anything.

 

[youbet]

I tried both market and limit.

No dice.

Not the end of the world, but would've loved to do it from an investing slash gambling standpoint

I just placed (and cancelled) a market order for ERUS with Schwab with no issues.

Who is your broker and what did they say when you called and asked for an explanation?

 

[youbet]

Selective morality of convenience.

.

I doubt that. More likely all business/rules/policies/ litigation avoidance, etc.

 

[MichaelB]

Hopefully the OP is aware the market price today is 10 times higher than the net asset value as published yesterday.

 

[Pointby2]

E*Trade/Morgan Stanley won't take an online order for ERUS either.

 

[youbet]

Hopefully the OP is aware the market price today is 10 times higher than the net asset value as published yesterday.

It’s a guessing game as to what the NAV will be when/if all or most of the holdings are re-listed and traded.

Now I’m curious. Just added ERUS to my watch list.

 

[NW-Bound]

It’s a guessing game as to what the NAV will be when/if all or most of the holdings are re-listed and traded.

Now I’m curious. Just added ERUS to my watch list.

Yes, it will be interesting to watch.

I suspect that the freeze of cash flow will cause many Russian companies to go belly up.

How the heck that Moscow stock exchange stopped trading their own stocks, even before Western stock exchanges did?

 

[RetMD21]

Hopefully the OP is aware the market price today is 10 times higher than the net asset value as published yesterday.

I think that's a little outside the usual price/nav spread

 

[MichealKnight]

For me - it comes to this. Here's the final outcome for Russia:

1.)It pulls out the nukes. America launches on Russia launches on America, the world is over.

2.)Due to nuke deterrent AND oil - nobody obliterates Russia - and regardless who wins this war - Russia - exists.

If #2 happens , eventually some equities will come back. Some currency value comes back.

 

[Sunset]

For me - it comes to this. Here's the final outcome for Russia:

1.)It pulls out the nukes. America launches on Russia launches on America, the world is over.

2.)Due to nuke deterrent AND oil - nobody obliterates Russia - and regardless who wins this war - Russia - exists.

If #2 happens , eventually some equities will come back. Some currency value comes back.

You forgot China seeing the weakness of Russian forces with many stuck in Ukraine invades to capture the oil fields and other valuable stuff.
China does not worry about the West helping Russia.

Maybe that is why Putin started talking Nukes, he suddenly realized China is a big threat to him. Similar to how the pal of old Russia (the Nazi's) suddenly invaded Russia.

 

[Chuckanut]

Maybe that is why Putin started talking Nukes, he suddenly realized China is a big threat to him. Similar to how the pal of old Russia (the Nazi's) suddenly invaded Russia.

China as more people by far, better tech, and a far bigger economy than Russia. Russia is underpopulated for its size, and has vast amount of natural resources China could use. Why in the world would Russia be worried about China?

 

[aja8888]

China as more people by far, better tech, and a far bigger economy than Russia. Russia is underpopulated for its size, and has vast amount of natural resources China could use. Why in the world would Russia be worried about China?

The Chinese just recently cut a deal to buy natural gas from Russia for the next ten years. They are "buddies".

 

[Born2Fish]

My TD Ameritrade account informed that neither Buy nor Sell orders on any Russian securities are able to be accepted at this time…updates will be provided as they become available.

 

[BeachOrCity]

I am curious why the etfs are being traded for so much more than NAV.
Anyone have a theory?

My thinking is moex is closed because Putin and his oligarchs want to figure out how to buy these company’s back for either oligarchs or the state for Pennies on the ruble so to speak.

 

[MichealKnight]

Interesting

You forgot China seeing the weakness of Russian forces with many stuck in Ukraine invades to capture the oil fields and other valuable stuff.
China does not worry about the West helping Russia.

Maybe that is why Putin started talking Nukes, he suddenly realized China is a big threat to him. Similar to how the pal of old Russia (the Nazi's) suddenly invaded Russia.

That's out of the box thinking - interesting.

I guess - the likes of Russia or America can be pushed around - there's a nuclear deterrent but everyone knows it won't be used so yes, perhaps China can in fact do that. I just wonder - when does Russia say - enough his enough, fire up a few bad boys and launch em over there.

Also someone asked - my broker is ETRADE.