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Financier Kravtsov assessed the prospects of the St. Petersburg Stock Exchange after the loss of large brokers and the departure of KXan clients 36 Daily News

Date: March 20, 2023 Time: 18:24:22

“Trading volumes in St. Petersburg over the past year fell more than three times, so the exchange found itself in a very difficult situation,” Anton Kravtsov, a financial expert at the Finmir market, told Rossiyskaya Gazeta. sanctions, there is a drop in customers and a drop in income”.

In order to survive, according to the expert, St. Petersburg began to focus on the markets of friendly countries. The number of Hong Kong securities is expected to increase to 500, and in November 2022, international ETF trading began.

In 2023, SPB plans to enter the markets of India, Brazil, Mexico and South Africa, in addition, an environment will be created for the development of the digital financial assets market.

“The main problem for St. Petersburg in 2023 will be a decrease in liquidity, therefore, to support it, cooperation with large investors and existing wealthy clients should be developed,” Anton Kravtsov said.

It does not rule out that in the next two or three months an exchange platform will be created in Kazakhstan under the name ITS, where the Russian technologies of the St. Petersburg stock exchange will be the base, which will own 10% minus 1 share.

“This will allow investors to buy foreign securities outside of Russian jurisdiction, but it is not yet clear whether the Kazakh partners will take such a step, as pressure from the West is possible,” the expert concluded.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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