Forex Club Russia
Forex in Russian – on the eve of change
In early November, President Putin submitted to the State Duma a draft law on gambling, which could drastically change the situation in Russian segment of the Forex Market. At present, companies and banks offering services to the commission offers international currencies, are working on four main projects. First, it is called betting system ( Forex Club, Yumis, E-Capital, etc), in which the customer does not confirm the transaction and fees makes the online betting company in exchange rates. By the newspaper "Vedomosti" (October 23, 2006) as a system, is strictly prohibited. "According to a presidential bill, activity in organizing games of chance may be "+" "exclusively within the play areas (which are required to establish in Russia just four), and gambling activities, using information and telecommunications networks, including internet and media "+" banned. "
Thus, gaming companies operating in the Forex market very soon have to enter these areas game. However, it is hard to imagine that thousands of customers dealing centers are accustomed to trading currencies online, go to Moscow, Kaliningrad and the region Novosibirsk to open or close positions on a pair euro / dollar or pound / franc. Most likely, the system of organization of the bookmaker will forced to stop taking money from customers in the Russian ruble and to offer them a choice: a regime of high seas, when a customer sends money to bank accounts foreign company (which drastically reduce the customer base), or work through the Bank of Russia, which is licensed by the currency. A fourth option for the job legal currency in the OTC Russia remains quite urgent (Kalita-Finance, Optima Finance). It is this scheme of work is most promising in terms of practice world.
If we turn to the experience of management operations in the foreign exchange market, for example, in U.S. trades OTC on a stock (shares, indexes, etc.) are subject to the law, entitled Commodity Exchange Act (similar to ours, "Trademark Law and the stock exchanges of change") and are classified as "off-exchange futures contracts in foreign currency" (off-exchange futures, ie contracts, fixed-term foreign currency). One can assume Russia to go in regulating such transactions on the global path. At least at the time the Federal Financial Markets Service on the Russian government is actively working on amendments to the draft law on gambling business for the derivatives market has not been put into law. According FFMS zam.rukovoditelya Vladislav Streltsov, his office has been actively working with legislators .. and not at all clear that derivatives + market can not be equated with roulette and other games of chance.
What other measures (Besides the definition and legislative consolidation of the legal nature of transactions in Forex) could take the state on behalf of the Federal markets financial services market to create a transparent and legal currency in Russia?
In my opinion, has to work with the Federal Tax Service Development amendments to draft laws defining the status of market participants (both natural and legal persons) in tax (tax agents, tax income on transactions, etc.).
It is important to develop the provisions relating to the requirements of the financial situation of the teacher. members (the charter capital, shareholders funds, etc.), forms of accountability to regulatory bodies (Federal Financial Markets Service), prof self-regulatory organizations. participants disclosure and measures to reduce (prevent) the specific risks inherent in this segment of the fin. market, the accuracy of commercial data services in Russia.
It should provide rules for the certification of software products through which transactions are the difference (exchange rates, equities, indices, etc), licensing companies specializing in serving this segment of the fin. markets (traders, brokers, etc)
And finally, establish requirements for financial arrangements between the parties in market transactions of difference, margin loans, Professor segregated accounts. participants, etc.
All of the above, would help protect customers from Russia took the centers and to make the most civilized and transparent market.
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Eduard Hill World TROLOLO Tour.avi