Participants in the forex market announced the launch of a self-regulatory organization in the Russia

7 December 2010 at a business meeting in Moscow, representatives of famous international brands, service providers and services in the Forex market, today announced a self-regulatory organization in the Russian Federation (hereinafter - the SRO). Told a press briefing the same day officials said a forex broker (Alpari, SC FOREX CLUB, Teletrade, Masterforex, GK Admiral-Umis, Adrenalin Forex).

Today began the process of registration of noncommercial partnership "Center of regulation of OTC financial instruments and technologies" (NP "TSRFIN). Subsequently, the NP TSRFIN "should get the status of CPO and become full-fledged successor KROUFR - a non-profit industry organization created in 2003.

The primary task of CPO in the Forex market in the Russian Federation will be to adapt the best international standards of professional work to the peculiarities of the Russian financial sector. Basic standards of regulation should be focused on protecting the interests of all market participants and, above all, traders - individuals against possible risks. Among other things, to the base will include the following regulations:

* Customer Service - natural and legal persons residing and registered in Russia - must be legal entities registered in Russia.
* All market participants must meet minimum capital requirements and traders to hedge against the risks of non-payment, with the capital must be kept in the accounts approved by Russian banks.
* Market participants must abide by a number of organizational and ethical requirements developed on the basis of the international experience (the disclosure requirements, the correct information about the risks of trafficking, provision of correct information in their promotional materials, implement anti-money laundering procedures, tools, etc.).

It is expected that the SRO TSRFIN "in the Forex market in Russia will begin full operations in mid-2011. It is assumed that in the future of the SRO will include all companies access to Russian individuals and legal entities on the international Forex market.