EXNESS is prepared for the introduction of regulation of the currency market in Russia

May 18, 2015

In Moscow, on April 23, the 2nd International Forex Congress was held, organized by SRO CRFIN. EXNESS participated as a General Partner.
 
The event was well executed and included participation from representatives of the State Duma, Central Bank of the Russian Federation, national payment system, banks, and leading forex companies. During the Congress, the macroeconomic prerequisites for change in the Russian currency market were discussed, along with the current state of the market and the role of the Russian ruble in the domestic economy. At the same time, officials from the Central Bank of the Russian Federation and brokerage companies held talks on the requirements of the new law and obtaining a license. "At the Second International Forex Congress, representatives of the Central Bank of Russia and forex market participants had an open discussion about the problems of regulation. The outcome of the discussion will help to more quickly coordinate and prepare the necessary regulations and standards. Moreover, regulation of the forex market in Russia will make it possible to determine the biggest players, who are capable of complying with the requirements of the new law. Our company is ready for strict regulation and proper compliance with all legal regulations," said EXNESS LLC General Director Oleg Okhrimets.
 
In addition to the matters of licensing and regulation, participants exchanged experience in the "Marketing Forex Services" session. Head of promotion for EXNESS Russia & CIS, Aleksey Abizyaev, put forward a proposal to create a common transparent rating system for forex brokers based on CRFIN. The idea was supported by the majority of forex company representatives.
 
EXNESS also organized a master class with practicing trader Stanislav Bernukhov. Participants truly appreciated the master class, chatted with the speaker, and received a nice souvenir from EXNESS for good luck in trading — a robot with the corporate colors.
 
When the Congress came to an end, the next steps for interaction between market participants and regulatory officials had been identified. "The Moscow Forex Congress was an important forum for coordinating the direction of development of the entire industry. As a member of CRFIN, we are directly interested in assisting with matters of regulation in the Russian market and making it more transparent, so we intend to support similar events in the future as well," said Oleg Okhrimets.

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