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by Makrine on October 15th, 2019

Interactive Brokers Got Hands on Moscow Exchange

Interactive Brokers is one of the largest global electronic groups based in the U.S. It has caught headlines as MOEX, Moscow Exchange, declared teaming up with the company. Hence, access to the Russian market will be provided for Brokers’ clients not only in the states but all over the world as well. The good news is that the account funding can now be conducted in whooping 24 currencies. Interactive Brokers’ clients will also be able to trade assets in multiple currencies from a single account and this can be done in Russian ruble as well.

The first announcement regarding the access providing to the Russian market had been publicized in June 2019, by MOEX itself. As the Managing Director of MOEX Securities Market, Anna Kuznetsova points out it is certainly something to be thrilled about when one of the most globally well-known US-based electronic brokers makes a deal with your company and gives its clients an amazing opportunity to conduct trading matters via Moscow Exchange. It has been estimated that more than an impressive number of 840000 trades are carried out by Interactive Brokers on a daily basis which only makes it predictable for clients to be able to use MOEX trading products.

Future Considerations

The expansion of market access seems to be one of the major goals that Interactive Brokers values and strives towards. Executive Vice President of Marketing and Product Development, Steve Sanders emphasizes the company’s tendency to lean in the direction of growing interest in terms of investing in Russia. This can be explained by the simplicity of a fact that the company is serving clients from more than 200 countries around the world, and favoring globally applicable implications, one of the most prominent representatives of which is the Russian Market, is not at all surprising.

Interactive Brokers will not be alone at dealing with Moscow Exchange. The partnership between the company and Raffeisenbenbank seems attractive and promising for both parties. Head of Corporate and Investment Banking Directorate and the Board Member of Raffeisenbank, Nikita Patrakhin is not afraid to make bold claims regarding the effectiveness of the bank policies and in all due frankness, he has all rights to do so. The reason for this is the fact that Raffeisenbank is one of the very few foreign banks that has managed to gain access to the Russian Market and they are eager to help Interactive Brokers make it accessible for more than half-million international investors to conduct trade on MOEX.

Something Had to be Done the Right Way

It should be noted that partnering companies prioritize the strategic aspect of dealing with the Moscow Exchange. More concretely, the increase in accessibility for the non-residents. Their hopes and expectations include the growth of trading volumes in the variety of Russian equities and the enhancement of investments in the Russian economy. Since the latter is notorious for being picky when it comes to choosing marketing partners, there seems to be a naturally arising question: what exactly did Interactive Brokers do right? The answer will shock neither the financially affluent, nor the general public. Similar to Raffeisenbank, top concerns of Interactive Brokers include putting out services of the best possible quality and full commitment to the well-tested corporate practices. The company also declares that these priorities are not narrowed down to MOEX only. Rather, the initiatives of such nature are supported everywhere on a global scale.

If we recall June 2019, the Russian Market did not behave in the most inclusive or welcoming manner. In fact, it had dropped the partnerships with a multitude of companies. Although, Interactive Brokers successfully managed to keep their place and even team up with one of the best-known foreign banks. Together these two can hope to establish a growing trading arena in the realm of the Russian financial world.

By Makrine

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