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The Center for Regulation in OTC Financial Instruments and Technologies (CRFIN), Russia’s Forex self-regulatory organization, has made a decisive step in filling a gap in information resources when it comes to the country’s online trading industry.
Today, CRFIN announced the official launch of its own center for information and analytics, which, as its name suggests, will be active in the area of research of Russia’s FX market. The service aims to provide top-quality analytical content, as well as expert views on the Forex market in the country. It will also conduct surveys and polls to assess better the situation and gather public opinions.
Denis Emelyanov will be at the helm of the research center. He brings along expertise of more than 10 years in the Forex area. Apart from his experience in the field of online trading, he is also known for his journalistic background – he has collaborated with Kommentarii.ru, F&O (Futures&Options), Financial One, and Odnako.org.
The launch of the analytical service happens at a decisive moment for CRFIN, as the organization braces to become the SRO in which all Russian Forex brokers have to participate in order to obtain and retain their licenses as Forex dealers.
The organization will be responsible for multiple aspects of the FX market in the country, including the criteria for correct advertising of Forex products and services. This is stipulated in the Russian Forex law that earlier this week got approved at this third reading in the State Duma (the lower chamber of the Russian parliament).
The role of the new center is important – it shows CRFIN’s capacity to provide comprehensive information about the Forex industry and also compensates for a big gap in information resources in Russia when it comes to Forex, especially when it comes to analytical content. For the time being, Interfax’s annual Forex report is amid the handful of such materials but it is based on testimony of a limited number of FX brokers, without any guarantee of the truthfulness of the information supplied.
For the full announcement from CRFIN, click here.