October 29th, 2018, Following his participation in the 3rd annual International Conference on the Protection of Investors Rights, which recently took place in Moscow, Russia, Financial Commission Chairman, Peter Tatarnikov joined Finversia financial news for a lengthy one-on-one interview to discuss the development of the regulated Forex market in Russia, its current challenges and opportunities. We invite you to watch the full video below.
During the interview, Peter shared his opinion on the legislative developments regarding FX trading in Russia. Most importantly, Peter reiterated his optimism regarding the local industry, stating that – “I know that we can build a real Forex hub here, even the best one” when discussing the specific proposed regulatory changes to current rules governing licensed forex-dealers in Russia.
The interview touched on many important subjects, including the financial awareness of Russian citizens. It is so secret that during the so-called “turbulent” times of the past 20 years, Russians have become literate in the ways of currency exchange rates and speculation on currency prices. As such, the future scope of the Russian FX market looks promising.
Of major significance is the fact, as noted by Mr. Tatarnikov, that the Bank of Russia is taking important and necessary steps to ensure that the local marketplace becomes more competitive and attracts more domestic investors, whom today are still prone to choosing an offshore broker to trade with.