‘PBS’ – the Latest Fintech Player Stepping Into The Russian Stock Market
JSC Prime Brokerage Service (PBS), a member company of the B2Broker group, has received License from the Bank of Russia, according to B2Broker. After applying for a license with the Russian regulator earlier this year, PBS granted authorization to conduct brokerage and dealer activities in October 2021.
The Russian financial market works through a strict centralized approach and government influence on its activities. The government started concentrating on the Forex industry back in 2016, initiating the requirement for brokerages working in Russia to get a permit from the central bank, featuring the need for guidelines and the need to prevent fake entities and customers’ investment interest towards investment with a respectable broker. However, many years of unregulated activities presently fall under the umbrella of a robust regulatory system.
These cautious actions reflected the Bank of Russia‘s attempts to clean up the market and develop trading practices in a more trustful and exceptionally regulated way. The Bank of Russia has not issued a large number of licenses. And only a few organizations have received the coveted license since only those that convey clear and straightforward activities in accordance with Bank of Russia regulations are recognized. PBS, which is now a member of a select group of prestigious entities.
Who is PBS ?
The B2Broker group, headed by Arthur Azizov, is notable in the industry and engages in professional solutions for brokers, traders and banks, specializing in infrastructure trading solutions and as a liquidity supplier in various jurisdictions. PBS itself doesn’t focus on the retail market. Instead, however, on services for corporate investors, institutional players (assets, broker and banks) and professional market members.