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VTB Capital Investments announced non-accredited investor testing results

About 55% of new customers of VTB Capital Investments successfully pass tests, as reported by Vladimir Potapov at “RUSSIA CALLING!” investment forum. At the same time, introduction of tests for non-accredited investors for access to trading in complex financial instruments did not result in reduction of trading volumes for such instruments.

Over the first month of required testing for retail investors alone more than half a million tests were taken. The tests for access to over-the-counter instrument purchases (Russian and foreign equities) turned out to be the hardest: only 39% were passed successfully.

Most of positive results were achieved by those customers who took tests for trading bonds of Russian issuer without any credit rating: 75% were successful, investment fund units (65,6%) and structured bonds (70%).

No reduction in trading volumes in instruments, requiring non-accredited investor testing, was registered. Continued customer base growth and inflows of customer funds offset the reduction in demand for those instruments that require testing. Moreover, some customers may use the “grandfather clause”, if they traded in these securities prior to introduction of testing.

“We are happy with the first testing results, and overall, we believe that introduction of required testing is an adequate initiative. Its goal is not to limit investors, but to make their market operations more informed, meaning to help them manage their savings more responsibly. This is a key condition for the making of a competent long-term investor, who will not lose faith in the market”, — noted Vladimir Potapov.