Moscow Exchange (MOEX) today announces that Interactive Brokers Group (Nasdaq: IBKR), a global electronic broker, has begun providing access to the Russian market for all its clients in the US and worldwide. Interactive Brokers, named Barron’s Best Online Broker 2019, serves over 650,000 clients and operates on more than 125 exchanges in 31 countries. Clients can fund their account in 24 currencies and trade assets from a single account in multiple currencies, including the Russian ruble.
Access to Moscow Exchange is provided via Raiffeisenbank, which holds a Russian broker license. The ability to trade directly on MOEX outside of Russia but through a local broker is possible thanks to MOEX’s Sponsored Market Access (SMA) model, low latency, and fully redundant global point of presence (PoP) architecture.
Anna Kuznetsova, Managing Director of Securities Market at MOEX, said: “We’re thrilled that one of the largest US electronic brokers is offering their clients access to trading on Moscow Exchange. Interactive Brokers executes more than 840,000 trades per day, and has long been known for its superior technology and global footprint. It is only natural that the firm’s clients should have access to trading in Moscow Exchange products.”
Steve Sanders, Executive Vice President of Marketing and Product Development at Interactive Brokers, said: “We serve clients in over 200 countries and see a growing interest in investing in Russia. We’re excited to expand market access to the Moscow Exchange for our clients around the globe.”
Nikita Patrakhin, Head of Corporate and Investment Banking Directorate, Board Member of Raffeisenbank said: “Providing access to Russian financial market for non-residents is a strategic priority of Raiffeisenbank. Our partnership with Interactive Brokers means that now more than half million international investors have the possibility to trade on MOEX. We hope it will lead to increasing trading volumes in a wide range of Russian equities and investments into the Russian economy. We are one of only a few foreign banks offering access to the Russian market to non-residents, and we are delighted to partner with one of the biggest electronic brokers in the world. High-quality service and commitment to best corporate practices are our priorities in partnerships with all types of financial institutions, and we are ready to support such initiatives on a global scale.”
Moscow Exchange first announced that Interactive Brokers planned to provide access to the Russian market in June 2019. Trading in MOEX-listed stocks on Interactive Brokers was initially available to Russian residents only, and is now available to all Interactive Brokers clients in the US and worldwide.
About Moscow Exchange
Moscow Exchange Group operates Russia’s main trading platform for equities, bonds, derivative instruments, currencies, money market instruments and commodities. The Group includes the central securities depository (National Settlement Depository), and a clearing center (National Clearing Centre), performing the functions of central counterparty on the markets, which allows Moscow Exchange to offer its clients the full spectrum of trading and post-trading services.Moscow Exchange was formed in December 2011 as a result of a merger between Russia’s two main exchange groups – MICEX Group, the oldest domestic exchange and operator of the leading securities, foreign exchange and money market platform in Russia; and RTS Group, at the time the operator of Russia’s leading derivatives market. This combination created a vertically integrated public trading market across most major asset classes named Moscow Exchange. Moscow Exchange held the initial public offering of its shares on 15 February 2013 (ticker MOEX).
About Interactive Brokers Group, Inc.
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 125 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account to clients worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios at the lowest cost according to Barron’s Best Online Brokers review, February 25, 2019. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments.
Raiffeisenbank is a subsidiary of Raiffeisen Bank International (RBI). Raiffeisenbank is one of the most reliable Russian banks, which offers a full range of prime-brokerage services and electronic direct access to all Russian markets on MOEX to international and local institutional clients. The trading product range includes all available asset classes: equities, bonds, REPO, FX, Swaps and derivatives – and is coupled with competitive Global Markets solutions in Capital Markets, Custody and Cash Management areas. According to Interfax-CEA, Raiffeisenbank ranked 11th based on assets at the end of 6 months of 2019.RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 13 markets of the region are covered by subsidiary banks. Additionally, the RBI Group comprises numerous other financial service providers, for instance in leasing, asset management or M&A. Around 47,000 employees service 16.4 million customers through more than 2,100 business outlets, the by far largest part thereof in CEE. RBI’s shares are listed on the Vienna Stock Exchange. The Austrian Regional Raiffeisen Banks own around 58.8 per cent of the shares, the remainder is in free float. Within the Austrian Raiffeisen Banking Group, RBI is the central institute of the Regional Raiffeisen Banks and other affiliated credit institutions.