2023-05-17 00:49:40
Finam broker plans to give its clients access to the markets of South Korea, Brazil and Mexico by the end of 2023. Trading there will be available only to qualified investors. This was announced by the company’s president Vladislav Kochetkov in a conversation with RBC.
“Most likely, by the end of the year, in addition to India, there will be at least one Latin American market and, possibly, South Korea,” Mr. Kochetkov said. He explained that in Latin America Finam is considering Brazil and Mexico. According to his expectations, the broker will be able to enter the Brazilian market sooner, as operations with the Brazilian real are already relatively well-established.
Vladislav Kochetkov explained that qualified investors will have access to the auction. Operations will go through intermediaries. According to him, it is not physically impossible to obtain licenses everywhere and it is quite expensive to dive into the new regulatory field. According to him, up to 10% of customer demand will come from alternative markets, another 25% from the American markets, and the remaining 65% from Russia.
Previously, Finam provided Russian clients with access to the private and public markets in India through a local broker, Ashika Group. Prior to the imposition of sanctions once morest Russia, the US stock market accounted for regarding 35% of client demand, another 60% for Russia, and the remaining 5% for European ones.
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