Moscow Exchange (MOEX) announced that it has expanded trading access to Russian stocks with the global electronic broker Interactive Brokers Group (IEX: IBKR).
Interactive Brokers now has trading access to MOEX via AO Raiffeisenbank, which holds a Russian broker licence.
The ability to trade directly on MOEX outside of Russia but through a local broker has been made possible thanks to MOEX’s Sponsored Market Access (SMA) model, low latency, and fully redundant global point of presence (PoP) architecture. Trading in MOEX-listed stocks on Interactive Brokers will initially be available to Russian residents.
Igor Marich, Managing Director of Money and Derivatives Markets at MOEX explained:
SMA meets all Russian regulatory requirements and gives traders easier access to all of MOEX’s markets including Equities, Fixed Income, Derivatives, FX and Money Markets. By hosting the broker’s risk parameters centrally, MOEX does away with the need to build expensive and latency-adding systems. MOEX’s POP offering has been enhanced by the inclusion of Avelacom as well as ICE, so there are now PoPs globally – in London, Frankfurt and the USA as well as countries such as in India and China.
Nikita Patrakhin, Head of Corporate and Investment Banking Directorate, Board Member of AO Raffeisenbank commented:
We are glad to welcome Interactive Brokers as one of the largest online brokers to our family of global international prime-brokerage customers who have chosen AO Raiffeisenbank as their strategic partner for the Russian financial markets. As part of Austrian-based Raiffeisen Bank International AG Group we strive to bring the highest service standards and best customer experience to all types of International Financial Institutions looking for direct trading access to Moscow Exchange’s markets.
Interactive Brokers aims to provide clients with unparalleled access to the world’s financial markets,” said Steve Sanders, executive vice president of marketing and product development at Interactive Brokers. “With our advanced technology and global reach, we can offer direct market access to both large and small markets efficiently and cost effectively and provide clients with a broad range of products.