MOEX Launches Retail Investor Platform With Russian Offering

National Settlement DepositoryMoscow Exchange (MOEX) has signed a memorandum of cooperation with 20 other Russian financial market participants in order to develop retail investor platform Marketplace.

Marketplace, operated by MOEX, will allow access from anywhere in the world to offerings of Russian financial institutions (banks, asset managers and insurance companies), tools to compare them and the means to purchase them remotely. Initiated by the Bank of Russia in 2017 jointly with market participants, the prototype was presented in June 2018.

Chief executives of Moscow Exchange, National Settlement Depository, Ak Bars Bank, Zenit Bank, Gazprombank, Otkritie Bank, Promsvyazbank, Rosbank, Russian Agricultural Bank, Svyaz Bank, SKB Bank, Sovcombank, Tinkoff Bank, Uralsib Bank, Bank Center-invest, Expobank,, Infinitum,, Unicom and Fins.Money, have signed the MoU.

MOEX will provide authentication and authorization of individual users, building up their risk profiles, supporting distance contract execution for purchasing financial products and services and payment thereof, as well as submitting trades to a financial transaction registrar (NSD).

Alexander Afanasiev, CEO of Moscow Exchange
Alexander Afanasiev, CEO of Moscow Exchange

Clients will first be given access to bank deposits, including remote deposits with the use of biometric authentication. The Marketplace platform will hold a limited number of participants at the first phase before adding mutual funds, government bonds and insurance and lending products.

Alexander Afanasiev, CEO of Moscow Exchange, said:

“Creation of the online financial Marketplace should make access to financial services and financial planning easier and more convenient for ordinary Russians. Our goal is to create a platform that links market participants and provides remote execution and performance of contracts across a wide range of services and instruments. Financial institutions will benefit from new distribution channels and the unified settlement tool with custodian services provided by MOEX and NSD. Today, Russia’s largest banks and online financial service providers are joining the project. I am confident that we will establish a convenient and efficient platform for the Russian public.”