The International Organisation of Securities Commissions (IOSCO) will sign a multilateral memorandum of understanding (MMOU) with Russia, regarding interactions in the financial market.
The memorandum was originally developed in 2002 in order to establish an exchange of information and to prevent unfair practices in financial markets. It has now been signed by 103 countries.
Sergei Shvetsov, first deputy chairman of the Bank of Russia, said: “IOSCO has adopted a positive resolution regarding signing the MMOU with Russia.”
Eddie Astanin, chairman of the executive board at the National Settlement Depository, Russia’s central securities depository, added: “The signing of the MMOU with IOSCO is a long-awaited and necessary act.”
“For Russia’s central securities depository this recognition simplifies a procedure of building the bilateral links with the infrastructures of the IOSCO regions, in particular, with Asian central securities depositories from Hong Kong and Singapore. These links provide a direct, effective and convenient access of Asian investors to the Russian market.”
