The Central Bank can open direct access to the Moscow Stock Exchange for investors; The brokers view the initiative to exclude it from the chain negatively. The Bank of Russia will make the final decision after “a broad discussion on the issue with the trade union community and an assessment of all the consequences,” writes Kommersant.
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Brokerage sources said the regulator is discussing the possibility of opening accounts directly. The Central Bank itself clarified that they are preparing an advisory report on the issue of eliminating intermediaries in the financial market.
As interlocutors say, if the regulator takes such a measure, the Moscow Stock Exchange will become a competitor for brokers. A representative of the commercial platform stated that the development of new products and services opens the conditions to discuss “the appropriate vector for the development of the diversity of business models in the financial market.”
The issue of excluding brokers from the chain was raised in October last year. Then the head of the supervisory board of the Moscow Stock Exchange, Sergei Shvetsov, said that by creating a single space for the stock market, investors will not need brokers to find the best price, since aggregators will also take care of this. task.
Brokers evaluate possible innovations very negatively. According to one of the publication’s interlocutors, the Moscow Stock Exchange has already made “significant profits from brokerage companies and banks” when it achieved direct trading for large legal entities.
Problems cited by runners
First of all, the exchange, as an organizer of operations, has inside information and data of all participants and clients, which will create a large number of conflicts of interest.
Secondly, the site does not have the experience or competence to serve retail customers. “Given the monopolization of services, this can lead to a decrease in competition and a drop in the level of service for the end client,” explains an interlocutor from the brokerage company.
Managing Partner of Enterprise Legal Solutions Yuri Fedyukin notes that “in no country in the world with a developed legal system where organized exchange operations are carried out, people cannot participate in them.”
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
