Foreign banks join Russia's equivalent of SWIFT

empty

InstaForex Loprais Team - Official participant of the Dakar rally

This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.

Account Opening

See also

Trading Conditions

Forex Analytics

Charts

This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.

Start as Beginner

Open Demo Account

Training

Trading Platform

FAQ

How to start trading

Video Tutorials

What is Forex

Forex Glossary

Knowledge Base

Contests by InstaForex

Online courses

Useful information

InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.

Become Investor

PAMM System

ForexCopy System

Passive investments

OYS account

Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.

Main Page

Partner Area

Advantages for Affiliates

Registration

This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.

All Promo Campaigns

Bonuses

Contests

Events

Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.

Forums

We are in social networks

Forex humour

Forex Portal

InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.

History

Why Choose Us

InstaSport

Regulation

Company News

Awards

InstaForex Stars

InstaForex Offline

Key documents

Social Responsibility

InstaForex Loprais Team - Official participant of the Dakar rally

Foreign banks join Russia's equivalent of SWIFT

27-02-2020 16:04

Foreign banks join Russia's equivalent of SWIFT

Open trading account Open demo account

Money withdrawal

Foreign banks join Russia's equivalent of SWIFT

In 2014, the Bank of Russia launched the development of the System for Transfer of Financial Messages (SPFS) as an alternative to the SWIFT financial transfer system. The initiative was introduced in response to US sanctions against Moscow and its threat to disconnect Russia from the SWIFT system. The SPFS is expected to limit the influence of international payment systems and enable Russian companies on the sanctions list to carry out transactions with foreign firms. Recently, First Deputy Governor of the Central Bank of Russia Olga Skorobogatova reported that 10 foreign banks had joined the SPFS system. However, no official information is available on which exactly banks have connected to the SPFS. Meanwhile, SWIFT remains the most popular payment system in the world. As of 2015, SWIFT messaging service linked more than 11,000 financial organizations in more than 200 countries worldwide, including about 1,000 corporations.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Forex humour