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TeleTrade News

December 2010 08

TeleTrade announces to establish SRO professional participants of the Forex market

TeleTrade representatives took part in a press-breafing , where was announced to establish a self-regulatory organization (SRO) professional participants of the currency market Forex. Besides TeleTrade, the meeting was attended by representatives from such companies as Alpari, SC FOREXCLUB, Masterforex, Adrenalin Forex and HA Admiral-Umis.

Participants of the meeting announced about the beginning of the registration process of non-profit partnership "Center of regulation of OTC financial instruments and technologies" (NP "TSRFIN"). The initiative is supported by the Ministry of Finance and the Ministry of Economic Development.

NP "TSRFIN" will receive the status of SRO and will be a full successor to the Commission on the regulation of relations of Financial Markets (KROUFR). SRO creation will provide the most transparent and civilized service in the foreign exchange market, which will meet the highest international standards and requirements.

It is conjectured that SRO TSRFIN will start out in mid-2011 and its membership will be all companies which give Russian individuals and legal entities to the international market Forex.

The meeting participants are sure that all developments on the basic standards of regulation, which will be created within the SRO will promote further development of the legislative base for the Forex market in Russia.

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