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PSB-Forex gets Forex dealer license. What will that bring to Russian banks?

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asked Apr 12, 2017 in Forex by SiD (1,970 points)

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answered Apr 12, 2017 by Reggy (1,870 points)

I think the move is seen to strengthen the presence of Russian banks in the FX market, as, thus far, only Promsvyazbank and VTB have their FX dealer subsidiaries licensed by the Bank of Russia. The issue of FX dealer license to PSB-Forex takes the total number of companies allowed by Russian authorities to offer OTC FX services to Russian residents to eight.

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