Cboe BZX Exchange to Suspend Trading in VanEck Russia ETF (RSX) and VanEck Russia Small-Cap ETF (RSXJ) and Commence Delisting Proceedings

Rhea-AI Summary

The Cboe BZX Exchange has initiated delisting proceedings for the VanEck Russia ETF (RSX) and the VanEck Russia Small-Cap ETF (RSXJ) due to their closure and liquidation. Trading in both funds has been halted since March 4, 2022, and the liquidation process will commence on January 12, 2023. VanEck has waived its appeal rights regarding the delisting. The Exchange will apply to the SEC for the delisting after completing the necessary procedures.

Positive

• VanEck has initiated a liquidation process, potentially allowing investors to recoup some capital.

Negative

• Trading in RSX and RSXJ has been halted since March 4, 2022, indicating ongoing challenges.
• The delisting of the funds may lead to a total loss of investment for shareholders.

CHICAGO, Jan. 12, 2023 /PRNewswire/ -- Cboe BZX Exchange, Inc. (the "Exchange") announced today that its Listing Qualifications Department has determined to commence proceedings to delist the VanEck Russia ETF and VanEck Russia Small-Cap ETF (collectively, the "Funds") -- ticker symbols RSX and RSXJ, respectively -- issued by the VanEck ETF Trust ("VanEck") from the Exchange. Trading in the Funds on the Exchange has been halted since March 4, 2022 and will be suspended immediately.

The delisting decision was taken in light of VanEck's announcement of its decision to close and liquidate the Funds, with the process of paying any proceeds of the liquidation scheduled to be initiated on January 12, 2023.

VanEck has informed the Exchange that it is waiving its appeal rights with respect to these delistings. The Exchange will apply to the SEC to delist the Funds upon completion of all applicable procedures.

Cboe Media Contact	VanEck Media Contact	Cboe Analyst Contact
Angela Tu	Chris Sullivan	Kenneth Hill, CFA
+1-646-856-8734	+1-212-473-4442	+1-312-786-7559
atu@cboe.com	chris@macmillancom.com	khill@cboe.com

 

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Cautionary Statements Regarding Forward-Looking Information

Certain information contained in this press release may constitute forward-looking statements. We caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made and are subject to a number of risks and uncertainties.

 

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SOURCE Cboe BZX Exchange, Inc.

FAQ

What led to the delisting of the VanEck Russia ETF (RSX) and the VanEck Russia Small-Cap ETF (RSXJ)?

The delisting was initiated due to VanEck's decision to close and liquidate the funds.

When will the liquidation process for the RSX and RSXJ begin?

The liquidation process is scheduled to commence on January 12, 2023.

What are the implications of the delisting for MOTE shareholders?

Shareholders may face significant losses as the funds will no longer be traded and their investments could be at risk.

Has VanEck appealed the delisting decision for RSX and RSXJ?

No, VanEck has waived its appeal rights concerning the delisting of these funds.

What are the next steps following the delisting of RSX and RSXJ?

Cboe will apply to the SEC for the delisting once all applicable procedures are completed.