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Securities Market

The securities market is a section of the financial market where capital is raised and redistributed through the issue and circulation of securities.

The securities market allows the fair pricing of financial instruments. A modern stock market also includes a derivatives market.

The securities market includes trade and settlement and accounting infrastructures, financial intermediaries, dealers, information and analytical agencies, investors and issuers.

Brokerage customers — 20.2 million
Trust management customers — 842,6 entities
Value of assets of individuals on brokerage service — 8.3 trillion rubles
Value of portfolios of individuals under trust management — 1.2 trillion rubles
Number of IIAs — 4.8 million
Assets in IIAs — 0.6 trillion rubles
(by the end of 2021 Q4)

Normally, investors may enter the securities market through financial intermediaries — professional securities market participants, including brokers, dealers, trustees, investment advisers, registrars, and depositories. As of the end of 2021 Q4, there were 472 organisations operating in the Russian securities market, namely 193 credit institutions, 242 non-bank financial institutions, and 37 investment advisers — individual entrepreneurs.

The securities market is evolving, offering investors multiple modes and forms of participation. One of the newly emerged investment instruments in the Russian securities market is the individual investment account (IIA) which allows investors to differentiate their investments and receive tax deductions.

The Bank of Russia ensures the sustainable development of the securities market, regulates the activity of professional securities market participants, controls and supervises them, protects investors’ rights and lawful interests in the securities market, for which purposes it counters unfair practices, the unlawful use of insider information and market manipulation, among other things.

Additionally, the Bank of Russia regulates the admission of securities to the financial market and compiles registers of financial instruments. The Bank of Russia is focused on the development of corporate relations and the improvement of corporate governance in Russian public companies, thereby promoting the development of equity financing.

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Last updated on: 16.03.2022