Alpari participated in the Eleventh Session of the Russian Economic and Financial Forum which was held March 18-19 in Zurich, Switzerland. The forum is organized by the company FINAS with support from the Association of Russian Banks. Representatives from a number of important finance institutions were in attendance, including the Association of Russian Banks, the Federation Council of Russia, the State Duma and the Russian Central Bank. Also participating were a number of high-ranking government ministers and top managers from major banking and industrial corporations.
As part of the Forum's second session on March 18, Alpari co-founder and Center for the Regulation of Financial Instruments (CRFIN) board member Gleb Petrov gave a report entitled "Forex in Russia: Problems and Opportunities".
"My report was devoted to issues concerning the development of the retail segment of the Forex market in Russia. The thrust of my speech concerned the idea that the lack of regulation is hindering the development of the financial sector as a whole. I articulated the position of the business community at large concerning regulation, and in particular voiced the suggestions of the CRFIN task force, which included experts from Alpari and other leading Forex brokers such as Admiral-UMIS, TeleTRADE and FOREX CLUB," commented Mr. Petrov.
The main goal of the Russian Economic and Financial Forum in Switzerland is to help strengthen Russian-Swiss economic ties in areas such as banking and investment. Attendees also discussed a range of important social and economic issues such as the outlook for economic growth in Russia's regions and questions pertaining to legislation in the banking industry. The currency market is an important part of the Russian economy and its formal recognition is seen as a high-priority objective in the Forex community.
The Zurich event is the successor to a series of annual conferences devoted to Russia's transition to a market economy which were held in Geneva starting in 1994. Today, the Forum is one of several Russia-themed economic forums held on a regular basis in Europe.