Share prices in the Australian RMI (Markets Migrating Fund) have been suspended on Tuesday following news that MRF share price had been suspended.
The move comes after MRF announced it would suspend trading on the Australian market.
The MRF announcement came as shares in a rival company, The Australian Commodity Exchange (ACCEX), had also been suspended following news of the company’s stock price crash.
The ACCEX shares traded at around $20 per share at midday on Tuesday.
MRF shares were suspended following the ACCEX share price crash that was followed by the loss of some of its trading operations.
ACCEX is a privately owned market based in the US that has been trading in Australian dollars since the 1980s.
A spokesman for ACCEX confirmed to AAP the suspension of trading, which is affecting shares in ACCEX.
“This suspension is effective immediately and has no impact on the trading activities of ACCEX shareholders,” he said.
It is one of the largest US exchanges and is owned by the Australian Commode Group. “
ACCEX shares were trading at about $20 at the time of the ACCES share price collapse.”ACCEX has been listed on the ASX since June 1, 2017.
It is one of the largest US exchanges and is owned by the Australian Commode Group.
As a result of the MRF suspension, ACCEX stock price fell from about $16 to $11.
Accex shares have a market value of $2.5 billion, making them the biggest listed exchange in the world.
While MRF has not said how many shares were removed from the market, ACCEx shares were listed on a “shoulder-to-shoulder” basis.
When the ACCEx stock price collapse occurred, MRF had a market capitalisation of $6.3 billion.
The MFR shares are also listed on Australian Securities Exchange (ASX) listed ETFs, such as MFR and MFR-L, which are not listed on MFR.
Both ETFs trade on the TSX and are not traded in the ACCX.
The suspension of ACCEx trading comes after a number of Australian companies were also suspended from trading on Australian markets.
According to Reuters, the ACC Exchange suspended trading of all Australian companies listed on its Australian stock exchange on Tuesday after news broke that the company had reported a loss of $1.4 billion.
ABC News reported that MFR, which was trading at $10.60, was suspended from the Australian stock market.
As of 8:20pm on Tuesday, shares in the MFR were trading for about $3.50 a share.MFR shares traded on a shoulder-to–shoulder basis and have a combined market value at $7.2 billion.
ACCEX said the suspension would affect all of its listed Australian ETFs and shares in its Australian ETF.
“As the suspension is in effect, ACCE will be removing its listed ETF from the ASIX and will also be discontinuing all Australian shares listed on ACCEX,” the spokesman said.