INFINITUM Receives Status of Financial Platform Operator

On October 22, 2020, the Bank of Russia decided to include information about the INFINITUM Asset Services in the register of financial platform operators.

According to the law on financial platforms, adopted in July 2020, a new entity has been created in the financial market – a financial platform operator. All financial platform operators must be included in the register maintained by the Bank of Russia.

“The Financial Platform project of the INFINITUM Group was launched to implement an open architecture to sell investment products,” Pavel Prass, General Director, INFINITUM Asset Services, is quoted as saying. “Joining the Marketplace system allows its customers to get access to all the connected products and services. We are developing the platform part of the system to provide the most technologically advanced integrations with market participants.”

The Marketplace distance trading involves the interaction among various participants: financial platforms, aggregator sites, financial organizations, the financial transaction registrar (FTR), and customers. The Financial Platform project of the INFINITUM Group offers transactions with shares of mutual investment funds. On December 3, 2018, the first experimental purchase of a mutual investment fund took place according to the distance trading rules, with the transaction registered with the FTR, created on the basis of the National Settlement Depository (NSD). At the moment, negotiations are underway to integrate the INFINITUM financial platform with the Moscow Exchange one.

“The status of financial platform operator gives new opportunities for the development of our online supermarket of shares,” Pavel Dengin, Deputy Director for Development of INFINITUM Asset Services, is quoted as saying. “Since 2017, investors have been successfully building their portfolios and making transactions with units of mutual funds using the INFINITUM Financial Platform, and soon it will be possible to buy this instrument both on the project’s site and on partner sites, thanks to the integration with our platform.”