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Showing posts from December, 2025

Compensation from broker for Russian CFD (contract for difference)

The UK Financial Ombudsman has ordered Interactive Brokers (IB) to compensate an investor that invested in a Russian CFD (contract for difference). In this case the CFD was for 10.000 Sberbank ordinary shares. Interactive Brokers refused to close the position because they could not trade the underlying Sberbank shares Interactive Brokers had bought to cover the CFD contract. From March 2022 onwards, IB raised the margin required for the position to 100%. By August 2024 the interest alone charged on the position had amounted to around USD $12,000.  The European Securities and Markets Authority (ESMA) introduced a margin close-out rule in 2018 that states that CFD providers have to close positions once the net asset value in the investor's account drops to 50% of the required margin. The Financial Ombudsman ruled that Interactive Brokers was required to stop charging interest and other charges on the CFD position once they had to close the position on the basis of the ESMA 50% margin...
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Video and presentation of Ozon webinar

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  EAHCISS and Irina Sibirina at Itlektis jointly hosted a webinar today on the topic of forced conversion of Ozon depositary shares into ordinary Russian shares. We have now uploaded the presentation and the video of the webinar on YouTube . The presentation can be downloaded here. Webinar title: "I don't want no liquidation!" How to apply for forced conversion of Ozon depositary shares into ordinary shares as a shareholder in Ozon. In this webinar we inform investors in Ozon about the process of applying forced conversion of Ozon depositary shares into ordinary shares as a shareholder in Ozon. It is highly recommended to apply for forced conversion in order to prevent liquidation of your depositary shares in Ozon by BNY (the depositary bank). Topics that will be covert are the opening of an account to receive ordinary shares in Ozon, the legal framework and how to practically go through the process of forced conversion. More information on forced conversion of Ozon ...
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Webinar on forced conversion of Ozon depositary shares

On the 29th of December at 14:00 Central European Time (CET; 16:00 MSK) EAHCISS will host a webinar on the topic of applying for forced conversion of Ozon depositary shares (also referred to as depositary receipts). The webinar is free of charge and can be joined via Yandex Telemost: https://telemost.yandex.ru/j/34283511035516 "I don't want no liquidation!" How to apply for forced conversion of Ozon depositary shares into ordinary shares as a shareholder in Ozon. In this webinar we aim to inform investors in Ozon about the process of applying forced conversion of Ozon depositary shares into ordinary shares as a shareholder in Ozon. Topics that will be covert are the opening of an account to receive ordinary shares in Ozon, the legal framework and how to practically go through the process of forced conversion. There will also be room for questions.
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Evraz update - getting your shares settled

Congratulations to all that now received the transfer information from Evraz PJSC (formerly known as NTMK). The next steps depend on your holding method. If you opened an account with ROST and requested Evraz PJSC (NTMK) to transfer the shares to your account in ROST there is no further action required. The shares will be transferred over the next few days. If you instructed Evraz PJSC (NTMK) to transfer your shares to your brokerage account you will need to instruct your broker to place a matching inbound instruction. From our previous experience this can be done after the settlement in the instructions, but it is better do so sooner rather than later. For Cifra the normal online transfer form cannot be used. You currently need to send a ticket to Cifra support with the attachment / details provided by Evraz PJSC and request them to complete the paper transfer form for you. Support will then reply with a pre-filled form that you only need to print and subsequently sign and date. You c...
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