CFH Clearing, a UK regulated technology and liquidity provider to the global FX market, is aiming to double business from Russia by the end of 2014 following significant rise in interest from major banks and brokers in the region since the launch of its ClearVision suite of products.
CFH Clearing's Vice President, Dr. Alex Iakobachvili, has returned from The St Petersburg International Forum SPIEF 2014 - a high profile event in which President Vladimir Putin discussed global economic and financial issues facing Russia and the emerging markets with selected business and political leaders from across the world.
CFH was invited because of its growth in the region and growth potential following the launch of ClearVision, which offers a universal tool for FX spot transactions to any regulated institution in Russia. CFH Clearing has also built primary partnerships with Russia's leading credit institutions.
Dr. Alex Iakobachvili commented: "It was an honour for CFH Clearing to be invited to this prestigious event and encouraging to see at the Forum that even in the current sanctions environment, Russian officials signed business agreements for over 11 billion US dollars.
"We see huge growth opportunities for CFH Clearing in Russia. Despite the crisis that has affected most of the world, Russia's economy continues to grow. The country's foreign debt is quite low compared to Eurozone countries (below 50 billion USD) and its economy has been labelled as the eighth-largest in the world. Some global financial institutions describe Russia's economic performance as "remarkable" and "awesome". Russia is no longer "just an oil and gas economy" - trading, construction and financial services are amongst rapidly growing sectors, too. The Russian retail FX spot market is large and growing fast. These trends are attracting massive foreign investment."