US broker Interactive Brokers is getting unparalleled integration into the Russian stock market starting from today. The development has been made possible after the broker gained trading access to the Moscow Exchange (MOEX) via the Russian subsidiary of Austrian bank Raiffeisen.
Raiffeisenbank holds a Russian broker license. Initially, only clients residing in Russia will be able to trade on the Moscow Exchange via their Interactive Brokers accounts. The new connection is enabled via the MOEX Sponsored Market Access (SMA) model. The connection is low latency, with fully redundant global point of presence (PoP) architecture.
While initially, only Russian residents are able to trade on the local stock market, MOEX-listed stocks trading via Interactive Brokers is going to get a broader footprint in the future.
Commenting on the announcement, the Managing Director of Money and Derivatives Markets at MOEX, Igor Marich, said that the 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.
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“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,” Marich elaborated.
“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,” elaborated Sanders.
The news further underpins the dominant position of Interactive Brokers in the market. The company serves over 639,000 clients worldwide and operates on more than 125 exchanges in 31 countries.