Russia debate: Russia pushes on with financial markets developments

May 06, 2010

Moscow’s attempt to develop as an important financial centre is at the core of a series of capital markets-friendly legislative changes. Euromoney talks to investors, City of Moscow officials, exchange heads and regulators about progress so far and what is to come.

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	Executive summary • Moscow’s ambition to become an important international financial centre rests on the creation of a deep pool of liquidity • The financial centre’s development requires a substantial legislative reform of the financial system that is already well under way • Competition from other financial centres will not undercut Moscow’s offering • A broadening and deepening of Russian capital markets is being achieved with new laws, culminating in a curb on insider trading and market manipulation • A shortage of long-term bond issuance is being overcome • Infrastructure developments should underpin Moscow’s financial centre plans

SR, Euromoney One of Moscow’s key objectives is to be a significant international financial centre. But what elements of a financial centre do you think are important?

YR, City of Moscow On the most basic level we would like to establish a system that allows for the effective deployment and use of capital to the mutual benefit of issuers and lenders.

VM, FFMS Clearly a financial centre can be thought of as a concentration of international financial trading, or of banking institutions or of registered companies – such as Ireland and some offshore areas.

Russia debate: Russia pushes on with financial markets developments

Moscow’s attempt to develop as an important financial centre is at the core of a series of capital markets-friendly legislative changes. Euromoney talks to investors, City of Moscow officials, exchange heads and regulators about progress so far and what is to come.

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