Moscow Central Stock Exchange - On 27.10.1997 with falling market the exchange illegally stopped the trades, and later cancelled all the deeds of the day. Later all positions were forcedly closed with the price much higher of the market. As a result our arbitrage positions were closed with big losses. Since then we don't use the exchange for trades. After 17.08.1998 the exchange died quietly.
Russian Exchange - On 01.06.1998 it turned out that due to illegal trading of the top managers, lack of the amount of the marginal deposits together with the help of some employees the exchange lost almost all money. They were formally lost and taken off by winners. The trades were stopped. The following attempts to revive the exchange failed. The participants just lost some more money. On August 1999 the exchange was removed from the offices for the debts. Since then it don't appear anywhere.
As a result of the wrong quotation system on the futures the trades 14.08.1998 were finished with a big quotation price misbalance. Due to crisis of August 17 whey were never started again. The positions were forcedly closed. Result is about 30% losses of our deposit margin on the spread operations.