TAIGA among French companies in Moscow. The echoes. 31/10/2013
The echoes. Benjamin Quénelle Correspondent in Moscow
Paris encourages technology transfer with Russia.
“ To be seen by the Russians, Euronext has every interest in encouraging the participation of the French in the modernization of their financial sector. Edouard de Lencquesaing, Paris Europlace’s special adviser in charge of promoting the Parisian market, does not hide his enthusiasm for this new Franco-Russian cooperation, as Moscow seeks to create its own international financial center. “ Our SMEs specialized in innovative technologies have here a great card to play! ”
On the eve of Jean-Marc Ayrault’s visit to Russia, Paris Europlace yesterday invited a delegation of young French companies to present their know-how. “ A promising first trip! ”Says Adina Grigoriu of AAA, a French engineering firm in asset allocation. “At the moment, our clients are French, American and Dutch pension funds. Markets already mature. In Russia, this industry is just starting to grow. So there are many more opportunities here . ”
In practice, the financial center dreamed of by the Kremlin is still far from having emerged, despite several reforms. In 2011, the two stock exchanges merged, and this year Micex-RTS was listed on its own stock exchange platform.
New legislation has come into force to make the market more transparent and attractive. Objective: to convince Russian groups, who prefer a double entry, to Moscow and a renowned financial center (New York, London or Hong Kong), to be listed only in Russia. But the basic problem remains: there is not enough capital in Moscow ready to be invested.
“ Cahin-caha, this is happening. To create this financial center, Moscow really needs new technologies, “says Alexei Martynishin, head of the Moscow branch of Murex. The French company specializing in the development of risk management software, opened last year an office in Moscow and has three major customers (two private banks, one public). “ To work well with the Russians, there is no secret: you have to settle here, ” he advises. “ Americans and Germans have understood and are already present. To the French to follow …