22 June 2016
The Far East Development Fund, JSC, and the Association of financial market participants Nonprofit Partnership for Development of the Financial Market RTS have signed an agreement on joint implementation of the Voskhod investment system project in Russia’s Far East.
The purpose of the Voskhod investment system is to create conditions and mechanisms for raising investment in economic development of Russia’s Far East via the Russian financial market – from both Russian and international investors from the APR nations.
On the Fund’s side, the document was signed by General Director Alexei Chekunkov; on the side of NP RTS Association – President Roman Goryunov.
It is reported that various financial products will become available for investors in the new investment system: initially, these will be shares and bonds of Far East issuers and, in the future, the intention is to enlarge the toolbox to create the broadest possible opportunities for investors.
In total, the need for stock exchange and bound investments in the region is estimated at roughly RUB 280 billion. This concerns primarily projects delivered in Russia’s Far East as part of special economic development zones and Vladivostok Free Port.
“The system has already been launched pilot mode, full-scale launch being scheduled for 2 September. Investors will be able to buy and sell securities without any restraint,” the head of the FEDF announced.
According to FEDF Director Alexei Chekunkov, the project is geared towards risk-related retail investments in companies developing in the region. Voskhod is a bold, game-changing new project deliberately focused on the Far East. Existing stock exchanges are mostly meant for mature issuers who have achieved success. Yet there are many dynamic, fast-growing start-ups in the Far East that are often in need of venture capital. The new stock exchange online platform with simplified client identification rules, which we refer to as “the Russian NASDAQ”, will allow a market to be created for riskier retail investments in dynamic Far East companies,” said Mr. Chekunkov.
The President of NP RTS Association is confident that “Voskhod” will give a strong impetus to small and medium-sized businesses in the Far East. “One of the key priorities for NP RTS Association is increasing availability of financial services across Russia. It’s particularly relevant for regions located in time zones different from Moscow. “Voskhod” will provide a technological solution that, on the one hand, will further involvement of the Far East population in the investment process and, on the other hand, will give an impetus to small and medium-sized businesses in the region. Moreover, apart from Russian investors, representatives of the APR nations will also be able to conclude transactions with the assets in the system,” Mr. Goryunov stated.
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