CRFIN: Center for Regulation of OTC Financial Instruments and Technologies

The currency market is becoming more and more popular among the population in the CIS as a platform for earning income. Therefore, from year to year there appear more than a hundred new traders, more than a dozen dealing centers. To ensure the safety of investment and transparency of financial transactions on the e, it is necessary to constantly monitor the activities of brokers. In this excursus fortrader.org magazine looks at such a Russian regulator as CRFIN.

About other exchange regulators in Russia

• KROUFR: the first Russian regulator
• The Financial Markets Regulatory Center of Russia
• FFMS: Russia's financial markets regulator

Market regulation in Russia with the help of the CRFIN

• Full name: Center for Regulation of OTC Financial Instruments and Technologies.
• Title at English: Center for regulation of over-the-counter financial instruments and technologies.
• Abbreviated title: CRFIN.
• Subordinate countries: Russia.
• Funding: through the contributions of the participating companies.
• Degree of trust of tradersAverage.
• Official website: crfin.ru

This organization saw the light through the efforts of several of the world's leading brokers providing investment services in the foreign exchange market within the Russian Federation. The Center is self-regulatory organizationThe following is an example of a non-profit organization. The main purpose of the partnership - elevating the OTC segment to the category of full-fledged members of the financial industry in Russia.

The mission of the DRFIN, как сообщают его руководители, — постоянное содействие дилинговым центрам и органам власти в создании эффективного механизма регулирования market The main goal of the project is to ensure the convenience of all its participants and the protection of the capital.

The Center develops and implements standards, as well as rules of functioning of the companies included in it. Besides, the FRCFIN monitors compliance with them and analyzes SRO member organizations. The noticeable result of SRO activity is stable increase of the quality level of services rendered on the currency market.

Thanks to the CRFIN, many principles and rules of professional ethics have been developed for companies providing services on Russian financial markets, and standards of conduct for members of the Center have been unified. In turn, member companies can always count on the fact that their rights will be protected at the legislative level. And thanks to the fact that the organization's registration document indicates the authority of the CRFIN as an Arbitration Court, many conflicts can be resolved according to the principle of judicial proceedings, but without the involvement of state executive and judicial authorities in the process.

CRFIN: level of trust of traders

So, the CRFIN is a non-profit organization founded as a result of a diplomatic agreement of several leading brokers providing services in the Russian financial markets. With the help of the organization's activity the higher level of investment services provided is achieved, any disputes and disagreements are promptly resolved.

Traders, however, should understand that CRFIN recommendations for the participating company cannot be mandatory, as is the case with the state regulator, despite the fact that its activities are as close to it as possible. Therefore, the degree of trust cannot be the highest.