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Central Bank Of Russia To Get Securities Trading Platforms

Writer's picture: Crypto News PointCrypto News Point

The Central Bank of Russia (CBR) is working to get securities trading platforms to reach the line on “risk-reduction” measures first passed in July.

It has been reported that the CBR recommends securities platforms and applications have systems to “secure the impossibility of executing on-platform trades resulting in the acquisition of stocks or other securities from foreign issuers by unqualified investors,” except those approved by the CBR.

However, the CBR is working to stop firms from offering “complicated investment products,” a term that largely lines up with leveraged trading or derivatives, to unqualified investors unless the firms offering those investments provide guaranteed returns of at least two-thirds of the central bank’s key rate.


Apps like Robinhood, which market to newcomers, are likely to lose the most to Russia's efforts to cut off "risky" investments. https://t.co/NHoICL9dOL — Cointelegraph (@Cointelegraph) January 4, 2021

As per the report, there are major doubts that the actual intention is to protect investors.

Thus, while 4.5% would be enviable for a US savings account, the ruble’s instability since sanctions in 2014 and, more recently, the market crash in March 2020 has driven huge numbers of investors to the stock market for the first time.

 
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