ACI-The Financial Markets Association (ACI) and the National Foreign Exchange Association of Russia (NFEA) have signed in Moscow a Memorandum of Cooperation, aiming at the development of a bilateral relationship between the two organizations.
In a statement, the associations says they are going to combine efforts to contribute to financial market development via promotion and exchange of best business practices, knowledge and experience, and educational materials as well as local market information and expertise possessed by the participants of the global and Russian foreign exchange, money and derivatives markets.
The two parties expressed their joint confidence that the exchange of experience, expert studies, analyses and researches, organization of the regular contacts, participation in the bilateral and multilateral events, support of various joint projects will promote the implementation of good market practice standards and rules for the conduct of financial market businesses by ACI in Russia, and introduction to the global financial community of the instruments, indices and market practices existing and developed in the Russian foreign exchange, money and derivatives market.
“The Memorandum of Cooperation signed between NFEA and ACI on February 14, 2007 in Moscow reflects the nature of our associations aimed to develop local markets in the global context,” says Godfried De Vidts, President of the ACI-Financial Markets Association. “This agreement will help the Russian financial markets to develop in full spirit of the recommendations established by ACI’s CFP. The need for education for local Russian market participants will be satisfied through close co-operation between the ACI Board of Education and the NFEA’s Committee for Professionalism, Ethics and Education. This agreement is a first step towards full co-operation between NFEA and ACI Russia that will help the common goal of both Russian based organisations i.e. help the growth of the local foreign exchange, money and derivatives market in the global context.”