B2Broker Group announced today that JSC Prime Brokerage Service (PBS), one of its member companies, has received a license from the bank of Russia to conduct brokerage and dealer activities. The company applied for the permit earlier this year and the Russian authority granted the license in October 2021.
After the acquisition of the license, PBS is now planning to facilitate professional traders, corporate and institutional clients through efficient services. B2Broker cleared that PBS will not be entering the mass retail market. PBS aims to take advantage of the growing stock market opportunities in Russia. According to the company, its goal is to provide convenient services in the B2B segment.
“The aim is to deliver a good product and offer banks and professional players the Prime Broker and Prime of Prime model on the Russian market with the maximum possible number of platforms, terminals, and instruments. In addition, the company plans to act as a liquidity provider for a number of foreign trading instruments,” B2Broker highlighted.
“Prime of Prime is not widely represented on the Russian market and clients through a single account with a Russian regulated prime broker will now have access to all well-known international exchanges and the instruments that are traded on them,” the company added.
Russian Market
Russia is one of the most popular FX markets in the world. Additionally, strict regulations from the Russian central bank now ensure a secure environment for the participation of FX entities and clients. The Bank of Russia issued a few licenses in the last 5 years to ensure clear and transparent operations compliant with its regulations.
“The news is therefore welcomed by PBS who now becomes a member of a selected list of prestigious entities. PBS will allow brokers to expand the range of traded instruments and exchanges,” B2Broker added in the official announcement shared with Finance Magnates.
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