Moscow Exchange and Sberbank sign cooperation agreement
Moscow Exchange and Sberbank signed a cooperation agreement to jointly create new solutions to boost investor interest and improve exchange infrastructure.
The official ceremony at the XXIV St. Petersburg International Economic Forum (SPIEF) was attended by Moscow Exchange CEO Yury Denisov and Sberbank Deputy Chairman Anatoly Popov.
Under the agreement, Moscow Exchange and Sberbank plan to work together to improve financial literacy, develop the collective investment market and expand the product range, increasing transparency and the availability of instruments to a wide range of investors.
The parties also will cooperate in developing and promoting new investment products and developing the rouble interest rate derivatives market.
Yury Denisov, CEO of Moscow Exchange, said:
"Today, we emphasise the importance of joint work between the exchange, the trading infrastructure operator and Russia's largest bank aimed at developing all areas of the financial market investment segment. On-exchange trading in Russia is developing dynamically, with an inflow of retail investors, increased liquidity in the financial markets and a qualitative transformation of the role of investment in the country's economy. These developments are why we are joining forces to find and implement the best solutions in all areas of investment activity, from improving infrastructure and optimising regulation to increasing financial literacy among private investors."
Anatoly Popov, Deputy Chairman of the Executive Board, Sberbank, said:
"We are interested in the harmonious development of the collective investments market and rouble interest rate derivatives, expanding the range of investment products and improving the financial literacy of retail investors, especially given their massive influx over the last two years.
We have many joint projects and common interests with Moscow Exchange. This agreement outlines key areas of cooperation for us, and I am confident that subsequent constructive work will have a positive impact on the overall state of the market and will contribute to its transparency and accessibility."
Sberbank of Russia (Sberbank) is one of the largest banks in Russia and one of the leading financial institutions globally. It holds approximately 30% of the total assets of the Russian banking system. Sberbank is a key lender to the national economy and holds one of the largest shares in the deposit market. The Russian Federation represented by the Ministry of Finance of the Russian Federation is the majority shareholder of Sberbank holding 50% plus one voting share in the company. The remaining 50% minus one voting share if the company’s share capital is owned by a variaty of Russian and intenrational investors. Clients from 18 countries use Sberbank's services. The Bank has an extensive branch network in Russia which includes about 14,000 service points. The bank's foreign network consists of subsidiary banks, branches and representative offices in the United Kingdom, the United States, the CIS, Central and Eastern Europe, India, China and other countries. General banking licence No. 1481 issued by the Bank of Russia on 11 August 2015.
Sberbank rebranded in 2020 and offers financial and non-financial services of the bank and Sberbank Group companies to private and corporate clients. The Sber ecosystem today is a multitude of services for life and daily assistance in solving the urgent problems of private clients and businesses. The Sber ecosystem website is www.sber.ru.
Moscow Exchange Group operates Russia’s main trading platform for equities, bonds, derivative instruments, currencies, money market instruments and commodities. The Group includes the central securities depository (National Settlement Depository), and a clearing center (National Clearing Centre), performing the functions of central counterparty on the markets, which allows Moscow Exchange to offer its clients the full spectrum of trading and post-trading services.