In the course of 2014 Moscow Exchange continued to focus on delivering client-centred service. The focus in 2014 was optimising procedures, thus reducing the time for admission to trade and switching from hard copy documents to electronic. This increased convenience for clients and paved the way for further efficiency improvements in future.
In 2014, the Exchange delivered internal projects to optimise data interchange that reduced the amount of documents received from clients by 44%. Thanks to profile updating and the know-your-client (KYC) policy in place at all Moscow Exchange Group companies, clients need to file just a single set of documents on a one-stop-shop basis.
An annual loyalty survey of Moscow Exchange trading firms in 2014 assigned the company a high Net Promoter Score (NPS) of 66%. 488 trading members took part in the survey, which is six times more than in 2013.
The Exchange continues to serve as a platform for discussing legislative changes, requirements of regulatory bodies and major technological changes with clients.
In 2014 Moscow Exchange concentrated its client relationship management on events and projects aimed at designing new services to make trading as convenient as possible. A particular area of focus was the development of Personal Accounts for trading members. These allow members to check their status data, receive reports, track submitted documents and generate copies in electronic format. The system to accept e-documents from trading members via the Personal Account substantially reduced the time needed for clients to generate documents and for the Exchange to process them.
Moscow Exchange maintains regular contact with trading members through the Exchange Council and user committees.
The Exchange Council is a permanent advisory body that represents members’ interests and ensures their needs are fully taken into account when considering issues related to the organisation and development of financial markets infrastructure. Proposals and recommendations from the Council are submitted to the Supervisory Board or another authorised management body. In 2014 the Exchange Council held three meetings that discussed clearing of OTC derivative financial instruments, creation of new products, measures taken by the Bank of Russia to maintain the stability of the Russian financial sector and other issues.
Moscow Exchange and the NSD have 17 user committees. The committees are advisory bodies that prepare proposals for amendments to laws and other legal regulations and consider regulatory issues relating to securities issuance and trading, disclosure and corporate governance. They also put forward proposals regarding securities trading, upgrades to clearing and settlement technologies and expansion of the range of available instruments and services.
The user committees worked out a number of innovations that were successfully implemented in 2014.
As part of cooperation with its customers, the Exchange participated in and sponsored the country’s largest professional conferences on the financial market, including the International Repo-Forum-NFA-2014 and the All-Russian Corporate Governance Forum at which the awards ceremony of the Director of the Year National Award took place.
In early spring, Moscow Exchange hosted the fifth annual Exchange Forum. The event is Russia’s largest conference for the professional financial community, bringing together up to a thousand delegates every year including representatives from banks, brokerage firms, Russian and foreign investment funds, independent experts and analysts. Heads of ministries, governmental agencies and regulatory authorities took part in the Forum’s plenary session.