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Sergey Karyakin has become Alpari Forex's first client

Publication Date: June 1, 2017

Dear clients,

Sergey Karyakin

On the 1st of June, 2017, Alpari Forex, a Russian legal entity of the Alpari international financial brand, officially opened its doors in Russia. World blitz chess champion, grandmaster Sergey Karyakin, became its first official client, signing a service agreement with the company and opening his own myAlpari account. In doing so, he marked the beginning of a new era of regulated access to international financial markets under Russian jurisdiction.

Here's what Andrey Dashin, owner of the Alpari international financial brand, had to say about this development: "Alpari has always advocated market transparency in the countries in which it operates. To this end, we became one of the initiators and participants of a program to create corresponding legislation in the Russian Federation. Today, the company's work came to fruition with the long-awaited launch of a new regulatory framework and Alpari Forex opened its doors to the public. First of all, the fact that the company is under Russian jurisdiction will be of interest to clients who are striving for financial security and legal protection. I'm certain that in the future, the company will become even more attractive and competitive compared to those with already established and recognised foreign jurisdictions."

At the end of 2014, Russian president Vladimir Putin, signed a law for the regulation of the Forex market, which stipulated that from 2016 onwards, all Forex brokers would be required to license their activities, to openly publish their accounting reports and become a member of a SRO (Self-regulatory Organisation). Alpari Forex received its professional licence for carrying out the operations of a Forex broker on the 28th of November, 2016. On the 14th of March, 2017, Alpari became a member of the AFD (Association of Forex Dealers) and on the 23rd of May, 2017, concluded a master contract.

As soon as all the requirements according to the current legislation were fulfilled, allowing Alpari Forex to provide services directly to clients, grandmaster Sergey Karyakin expressed an interest in taking the first steps onto a regulated financial market in Russia. The world-renowned chess player and the Alpari international financial brand have long had a strong working relationship, a high level of trust, and a shared ambition to be the best in their respective fields. Because of this, it was a no-brainer for Sergey to decide to work with Alpari Forex.

The young grandmaster had this to say: "Together with Alpari, we've walked a long and difficult path not only for my career, but also for the restoration of chess in Russia as a popular and in-demand game. Now, as the financial market in Russia undergoes a new stage in its development, I want to be directly involved in this and take advantage of the opportunities presented on the international currency market through Alpari Forex; a reliable and technologically advanced Forex dealer."

From its position within the AFD, Alpari continues to hold constructive talks with the Bank of Russia regarding the development of rules and regulations for the industry. On the 2nd of May, 2017, the Bank of Russia approved the first key set of basic standards for operation on the financial market that Forex dealers must follow. Ahead, there are still 3 sets of standards to be approved, which are set to be discussed in the near future. It's important to note that the regulator and market participants are ready to cooperate on this matter, as starting work in a new environment may require some revision of regulations and rules.

Best regards,
Alpari

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