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Notice of Trading Halt, etc. Concerning "NEXT FUNDS Russian Equity Index Exchange Traded Fund(1324)"

With regard to the ETF "NEXT FUNDS Russian Equity Index Exchange Traded Fund (Securities Code: 1324)" listed on the Tokyo Stock Exchange, TSE issued an alert on Thursday, March 7 this year* . However, due to the difficulty in trading Russian stocks, the management company of the ETF has been suspending applications for creation and redemption of the ETF for a long period of time. As a result, it is expected that the situation in which the market price of the ETF tends to differ from NAV over a considerable long period of time will not be resolved.

In light of these circumstances, TSE will conduct trading of the ETF until March 16 of this year and will halt trading for the time being from March 17.

In conjunction with this, TSE has summarized the matters to keep in mind as described below. TSE would appreciate your wide-ranging cooperation in sharing this information within your company and investors.

Trading Halt

With regard to the ETF "NEXT FUNDS Russian Equity Index Exchange Traded Fund (Securities Code: 1324)", TSE will conduct trading of the ETF until March 16 of this year and will halt trading for the time being from March 17.
ToSTNeT trading will also be halted for the time being from March 17.
After April 25th, 2022, TSE is operating not to accept orders to the ETF.

Distribution of Information on Trading Halt

Around 8:00 a.m. on March 17, TSE will notify you of the trading halt of the ETF through Target. TSE will not provide notices through Target after the following business day.

 

Notes on Margin Transactions

Due to the prolonged period of the trading halt, there is the likelihood that the interest and premium charge will end up becoming a large amount, so please note that continuing to conduct margin transactions will be accompanied with high risk.
In addition, please also note that there is the possibility that securities companies may bring forward the deadline of securities or money borrowed for margin transaction depending on how the situation develops.

Action in Line with the Listing Rules (added on June 27, 2022)

Concerning "NEXT FUNDS Russian Equity Index Exchange Traded Fund" (Securities Code: 1324), the provisions of the basic terms and conditions of the investment trust which concern tracking by the RTS index will be amended on June 29, 2022. Taking into account the situation of said ETF, including this amendment, TSE has decided to maintain its listing while taking other actions such as not requesting provision of information regarding tracking performance between the net asset value per unit and the specified indicator.

(note)
  • ･The relevant rules are Rules 1120 through 1122 of the Securities Listing Regulations. For more information including the purpose of these rules, please refer to "Partial Revisions to the Securities Listing Regulations Concerning ETF Listing in Light of the Impact of the Situation in Ukraine in 2022" published on June 27, 2022.

     Comparison Table of Old and New Rules (Japanese)

Other

When TSE will decide to resume trading of the ETF, it will promptly announce the decision.
Due to sudden changes in the market environment and other factors in the future, the resumption date of trading or whether or not trading is implemented may change. In that case, TSE will promptly notify you.