Moscow Exchange (MOEX) today announces that Interactive Brokers Group (Nasdaq: IBKR), a global electronic broker, has begun providing access to the Russian market for all its clients in the US and worldwide.
Interactive Brokers, named Barron’s Best Online Broker 2019, serves over 650,000 clients and operates on more than 125 exchanges in 31 countries. Clients can fund their account in 24 currencies and trade assets from a single account in multiple currencies, including the Russian ruble.
Access to Moscow Exchange is provided via Raiffeisenbank, which holds a Russian broker license. The ability to trade directly on MOEX outside of Russia but through a local broker is possible thanks to MOEX’s Sponsored Market Access (SMA) model, low latency, and fully redundant global point of presence (PoP) architecture.
Anna Kuznetsova, Managing Director of Securities Market at MOEX, said: "We’re thrilled that one of the largest US electronic brokers is offering their clients access to trading on Moscow Exchange. Interactive Brokers executes more than 840,000 trades per day, and has long been known for its superior technology and global footprint. It is only natural that the firm’s clients should have access to trading in Moscow Exchange products."
Steve Sanders, Executive Vice President of Marketing and Product Development at Interactive Brokers, said: "We serve clients in over 200 countries and see a growing interest in investing in Russia. We’re excited to expand market access to the Moscow Exchange for our clients around the globe."
Nikita Patrakhin, Head of Corporate and Investment Banking Directorate, Board Member of Raffeisenbank said: "Providing access to Russian financial market for non-residents is a strategic priority of Raiffeisenbank. Our partnership with Interactive Brokers means that now more than half million international investors have the possibility to trade on MOEX. We hope it will lead to increasing trading volumes in a wide range of Russian equities and investments into the Russian economy. We are one of only a few foreign banks offering access to the Russian market to non-residents, and we are delighted to partner with one of the biggest electronic brokers in the world. High-quality service and commitment to best corporate practices are our priorities in partnerships with all types of financial institutions, and we are ready to support such initiatives on a global scale."
Moscow Exchange first announced that Interactive Brokers planned to provide access to the Russian market in June 2019. Trading in MOEX-listed stocks on Interactive Brokers was initially available to Russian residents only, and is now available to all Interactive Brokers clients in the US and worldwide.
