On 28th November, 2016, the central bank of the Russian Federation finalised its decision to issue Alpari Forex Ltd. with a license granting the company the right to conduct its activities as a Forex dealer throughout Russia. As such, Alpari is now an officially licensed Forex dealer on the Russian market. The total capital held by Alpari Forex Ltd. exceeds 100 million Russian roubles.
From the moment it was founded, Alpari has always campaigned for further transparency on the Russian Forex market and has actively participated in industry organisations such as NAUFOR, NAFD and The Financial Commission in cooperative work with executive and legislative organs of power to develop legislation which regulates the Forex market in Russia and in other countries where the brand has a presence.
In essence, today is the beginning of a long-awaited era of legal regulation for the over the counter currency market in Russia. The appearance of clear rules for conducting business will increase trust in market participants and the transparency of their work, facilitating openness and raising the level of legal protection for private investors and the companies themselves. The financial industry in Russia will receive renewed impulse for development and its participants will receive access to modern and high-tech products and services of an international level.
“We did much to make this happen and are delighted that Alpari Forex Ltd. has received Russian licensing. This will offer Alpari clients in Russia the opportunity to choose native jurisdiction when working on international financial markets and will offer them additional legal security. Today the Russian internet trading market continues its development, however much work lies ahead to help the market grow and become more attractive. In conjunction with the regulator, Alpari and other market participants will continue assist in its improvement. We anticipate that the Russian Forex segment has a worthy place waiting amongst other recognised jurisdictions,” noted Alpari CEO, Boris Shilov.
