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Moscow Exchange reports record inflow, activity by retail investors - Reuters

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MOSCOW, March 4 (Reuters) - The Moscow Exchange, saw a record inflow of 883,400 new private investors in February, taking the overall number of individuals with brokerage accounts to 10.3 million, Russia’s largest bourse said on Thursday.

Retail investors’ activity also reached an all-time high in February, with 1.6 million accounts opened with the bourse carrying out transactions versus about 450,000 a year earlier.

Many Russians turned to trading amid the novel coronavirus crisis in 2020 as the central bank slashed rates to record lows, making banks’ deposits less attractive.

The exchange expects about 600,000 brokerage accounts to open per month, which could raise its number of retail clients to 15 million by year-end, Igor Marich, MOEX’s managing director for sales and business development, told Reuters in an interview. (Reporting by Elena Fabrichnaya and Anna Rzhevkina; editing by Andrey Ostroukh and Jason Neely)

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