MIFC: Key Facts

A source of basic facts about the International Financial Centre in Moscow

Task Assignments

06.12.2011 / Moscow

Task Assignments given by the President of the Russian Federation following the MIFC International Advisory Board session
on 28 October 2011.

Events Calendar

April 2019

Media Coverage

29.01.2014 / Interfax

Russia #3 Worldwide in Foreign Direct Investment

FDI in developing and transitional economies hit record highs in 2013, according to United Nations Conference on Trade and Development (UNCTAD) report.

06.04.2013 / Kommersant

Central Bank Builds Financial Center

FFMS merger with the CB will significantly improve regulation – as expected by reform participants and instigators alike. Yesterday the Bank of Russia, FFMS and Minfin reps made a public presentation of the financial megaregulator, as the process has entered implementation stage. In the meantime, MIFC mastermind Alexander Voloshin sees the future unification of oversight as a key milestone for Moscow as International Financial Center.

29.01.2013 / Interfax

MIFC Location to be Determined by Workgroup

Russian Prime Minister Dmitry Medvedev is planning to establish a workgroup to determine the location of Moscow International Financial Center (MIFC) infrastructure.

Our progress / Hot Topics

Trading infrastructure

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Non-Residents Share in OFZ Indicates Effective Market Liberalization, says CB

24.10.2013 15:57 / Interfax

The increase in OFZ investment by non-residents indicates the effectiveness of market liberalization measures, particularly the elimination of the infrastructure risk premium, roughly estimated at 100 b.p., says First Deputy Chairman of the Central Bank Kseniya Yudaeva in a comment distributed by the Bank of Russia press office.

On 23 October, the Bank of Russia published data on non-residents’ OFZ investments. According to the CB, as of 1 September 2013, non-residents accounted for 24,9% of the OFZ market, versus 3,7% in early 2012. The maximum share of non-residents in the OFZ market was registered on 1 May - 28,1%.

The international clearing house Euroclear opened an account at Russia’s central depositary NSD in late December 2012, commencing OTC trading in OFZs on 7 February 2013. Euroclear was followed by Clearstream.

Yudaeva says non-residents have significantly increased their investment volumes since the domestic state debt market had been liberalized, mainly by an influx of new portfolio investment. She points out that foreign sovereign funds, institutional investors and short-term strategy players have arrived in Russia.

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