How the major world currencies changed at the Moscow Exchange
Moscow Exchange has revised the asset purchase limit for the world’s major currencies. Investors can now buy 1 dollar or 1 euro. Thus, the minimum amount was reduced by a thousand times, while trading options and instruments, which are backed by a lot of a thousand units, will remain unchanged.
Representatives of the Moscow Stock Exchange commented on their decision by the desire to follow the market trends. Recently, the number of private investors on the trading floor is regularly increasing, they use brokerage accounts to transfer currency, and it is done not only to close large transactions, but also for the daily processes. Therefore, to give investors more opportunities, the exchange has decided to introduce transactions from 1 dollar and 1 euro. And now it is possible to make transactions with securities of foreign companies, which concern coupon payments and dividends. In addition, allow conversions, which are made as part of the implementation of the personal investment account.
Prior to the innovation the minimum limit was 1 thousand dollars and 1 thousand euro. In total, investors may conduct transactions using 17 pairs of different currencies. Last month almost 755 thousand new investors appeared on the stock exchange, while a total of 11 million small investors who opened a brokerage account were registered on the site. Analysts have assessed the market trends and say that the number of accounts of this type in the country could reach 74 million. This figure corresponds to the number of people who are actively involved in economic processes. It is quite possible that these people will want to try themselves as investors in the stock market, especially now that there are all the conditions. A brokerage account has ceased to be a complicated special component of activity on a trading floor, and more and more people use it for various activities. In most cases it is opened for interaction with credit organizations, and it is possible that in a while making out a brokerage account will be an additional service when opening a standard bank account.
The retail investment market in Russia is growing rapidly, and this trend will continue for a few months until the number of open brokerage accounts reaches 30 million, which is half the total number of economically active people in the country. In this scenario, the share of investment in the savings sector could take about 40%, for comparison, now it is 20%. At the same time in European countries this indicator is at the level of 50%, and in the U.S. – more than 80%. Analysts predict the first plateau in the growth rate of private investors, when the share of brokerage accounts will be within 40%.