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The Broker’s Day

The Brokers Day, is celebrated on January 31 in Russia. This date was chosen by the professional community of brokers. Traditionally, companies summarize their financial results of the year in January. Thus, at the end of January brokers have an opportunity to take a look back, assess their achievements and celebrate success.

Financial directors resort to brokers more often than others when placing and purchasing securities. That is why Russian Club of Financial Directors actively participates in the Brokers Day celebrations. The professional community of brokers is considered to be closely related to the community of financiers.

A financial broker is an expert engaged in securities market. This profession is considered to be new in Russia as mercantile exchanges emerged only in the beginning of the 90s in our country. However, this opinion is only partially true; in terms of the modern history the profession of broker is relatively new in Russia, but if we look deeper, we can understand that in Russia the first exchanges were established in the beginning of the 18th century.

The Decree on the establishment of a stock exchange in Russia was issued by Peter I in 1703. Obviously, at the same time the first stock gamblers started emerging in Russia who acted as intermediaries in transactions at exchanges. The rise of exchange trade in Russia was in the 19th century when exchanges became important market instruments of Russian economy. Of course, to a significant extent this happened due to brokers.

In the Soviet period the exchange instrument was abolished and the profession of broker was for a while forgotten. However, the return to market relations resulted in the renewal of the profession of broker in Russia.

Today, the profession of brokers is an integral part of Russian financial system and ensures the functioning of stock exchanges. Financial directors and top-managers use the services of brokers when working with exchange commodities. That is why the Brokers Day is a professional holiday of the financial community and Russian Club of Financial Directors actively participates in its celebrations.

© Russian Club CFO, 2014
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