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The European Financial Markets Federation (EFMF) is pleased to announce that the National Securities Market Association (NSMA, Russia), the Russian self-regulatory organisation for Russian securities market participants, has joined the Federation. NSMA joins four existing members, major associations, of EFMF, Associazione Italiana Operatori Mercati dei Capitali (ASSIOM), the Euro Debt Market Association (AMTE), the European Securities Forum (ESF), and the International Capital Market Association (ICMA).
NSMA, created by the largest participants in the Russian securities market and supported by the main regulators - the Bank of Russia, the Federal Financial Markets Service of Russia and the Ministry of Finance of the Russian Federation - operates as a self-regulatory professional organisation on the basis of a government license and self-regulatory principles. Its mission is to grow the investment potential of the Russian economy by establishing favourable conditions for the stable development of the Russian securities market and its participants business so improving the market’s attractiveness and securing investor rights observance.
Konstantin A. Volkov, President of the NSMA, commented: “The NSMA shares common principles with the other EFMF member associations and is committed to ensuring the adoption of best international practice in the financial markets through self-regulation. We believe that we will further our aim of creating the most conducive market framework for growth in the Russian financial markets through, among other ways, integration of the Russian financial market into the international one and cooperation with other financial market associations, benefiting from the European experience of developing successful capital markets and forging closer links between the capital market participants of Russia and Europe”.
The Federation has highlighted the following issues for joint cooperation in 2007: clearing & settlement, bond market transparency and market information & education.
