THE VOSKHOD EXCHANGE TO START TRADING DURING THE EEF
04 August 2016
Russia’s Far East will get its own exchange, a gateway for investment from Asia-Pacific Region.
The Voskhod investment exchange will be officially inaugurated at the beginning of September during the Vladivostok Forum, RIA Novosti reported.
“We have set the task to ring up the first trades at the Eastern Economic Forum, where a lot of new products will be introduced. The Voskhod exchange will start trading there, the Far East’s first trading in diamonds will take place, as well as the first deals of an agroindustrial fund set up by our Chinese neighbors”, Deputy Prime Minister Yury Trutnev said.
The Voskhod investment system is being set up to promote cooperation with the Hong Kong Exchange and to help Hong Kong companies enter the market in Russia’s Far East.
A broad agreement on that was achieved at the St. Petersburg International Economic Forum, where AO Far East Development Foundation and NP RTS Association signed a contract to establish the Voskhod, a new investment platform in Russia.
It was announced at the time of the signing that companies wishing to obtain a listing at the exchange would be fully audited by the Far East Development Foundation, which would work closely with the region’s businesses. According to NP RTS Association President Roman Goryunov, the new exchange is geared towards placements of small and medium Far Eastern enterprises and is expected to engage Russian private investors in exchange trading.
Simplified customer identification rules are one of the system’s advantages. The new online exchange platform is expected to help create a market for higher-risk retail investments in promising Far Eastern companies.
The second Eastern Economic Forum will take place on September 2–3, 2016 in Vladivostok.