The court restored the stock exchange license of UICE
The Sixth Administrative Court of Appeal partially satisfied the claims of the Ukrainian Interbank Currency Exchange (UICE) by its decision dated July 14, 2022.
Thus, the court adopted a resolution suspending the effect of the decision of the National Securities and Stock Market Commission dated May 13, 2022 No. 377 "Regarding the suspension of the license to conduct professional activities on the organized commodity markets of the Ukrainian Stock Exchange" until the court decision enters into force based on the results of the review before of the claim filed by the Ukrainian Ministry of Internal Affairs and Communications.
The NSSMC may file a cassation appeal with the Supreme Court to challenge this decision.
One may remind that from the end of April to May 13, Gas Supply Company Naftogaz Trading LLC held stock exchange auctions for the purchase of natural gas on the UICE. After the suspension of the UICE license, at the end of May, Naftogaz switched to trading on a new platform from the UICE SaaS Platform UICE. However, after July 13, bidding on the SaaS Platform UICE was also absent.