FXall, the world's leading foreign exchange platform, today announced that it has created a panel of Russian banks to promote online trading of the Russian ruble.
The banks, which include Absolut Bank, Bank of Khanty-Mansiysk, Investsberbank, Metallinvestbank and Sudostroitelny Bank, will provide ruble liquidity over FXall to Russian and international clients.
The panel was formed at ACI Russia's Second International Forex Seminar, at which FXall presented to more than 50 Russian foreign exchange specialists. Delegates included representatives from the Central Bank of the Russian Federation, as well as 32 Russian and overseas banks, investment firms and brokerage companies.
Igor Souzdaltsev, President of ACI Russia and Head of Financial Institutions at Investsberbank, said: "As Russia plays an increasingly important role in the global economy, there is a pressing need for round-the-clock access to ruble liquidity. FXall, as the world's leading foreign exchange platform for institutional clients, is in the perfect position to meet this demand. We are delighted to be partnering with them".
David Woolcock, Director, Head of Bank Sales, FXall commented: "Since the ruble became convertible in July, we have had interest from clients looking to trade it online. We look forward to working with Investsberbank and our Russian panel to make deep liquidity and competitive pricing in the ruble available to asset managers, banks, corporations, hedge funds and other institutional traders around the world".