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.
• 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?