Treasury in Russia and the CIS

EDITOR'S PERSPECTIVE

The Riddle that is Russia

Graham Buck 15 April

Winston Churchill famously described Russia as "a riddle, wrapped in a mystery, inside an enigma". While gtnews has carried occasional pieces on treasury in Russia and the CIS, it seemed timely for us to attempt to address the riddle - at least from the financial professional's angle, with a more dedicated study. Among our reports is one from Larysa Melnychuk, who helped establish the Moscow Financial Planning and Analysis (FP&A) Club last autumn. She was in the city two weeks ago for its latest meeting and records the mood among Russian financial professionals. By contrast, the London Club had the luxury of reviewing the FP&A capabilities of technology at its 8 April meeting, which Neil Ainger blogs about. Other posts include one from our Asia editor, Richard Hartung, on how the region's companies are increasingly using analytics to secure competitive advantage, while regular contributor Selwyn Blair-Ford of Wolters Kluwer examines financial market infrastructures (FMIs) and the proposed framework for enabling exchanges, clearing houses, trade repositories and payment systems to withstand financial stress.   

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Simplifying European Market Reporting: EMIR in the Click of a Button

Martin Bellin, BELLIN | 18 April

It’s been roughly one month since European Market Infrastructure Regulation (EMIR) reporting on derivatives has become mandatory across the European Union (EU), enforcing reporting, central clearing and risk management processes for all over-the-counter (OTC) derivative trades that occur with EU-based counterparties. Treasuries of companies with European subsidiaries may find that their reporting standards - even for those already Dodd-Frank compliant - are insufficient for the European Securities and Markets Authority (ESMA), in some cases requiring significant changes from preexisting business practices.

Creating a Balanced Corporate-to-Bank Relationship: The Added Value of Wallet Distribution and WAROC

Laurens Tijdhof, Zanders, Treasury & Finance Solutions - Pieter Sermeus, Zanders, Treasury & Finance Solutions | 17 April

The 2008-09 global financial crisis triggered a reactive response - in the form of the Basel III capital adequacy regime and other regulation - to reduce the negative impact of any potential future crisis with similar characteristics. Banks are currently dealing with decreasing profit margins on their supply to credit to corporate clients, which to date remains the core business for many of them.

InnoGames Interview: Game On for Alternative Payments Methodologies

Mark Gerban, InnoGames | 16 April

In this Q&A interview with gtnews, Mark Gerban, InnoGames’ head of payments, based in Hamburg, Germany, discusses the alternative payment methods that his games company uses and how they could help treasury. Deploying mobile m-payments and m-wallets, voice short codes, carrier billing, online and rich data alternative payment systems means that traceability, speed, convenience, cash management and oversight could all be improved - using lessons learnt from the games sector.

Sanctions against Russia: On the Path to Compliance

Reetu Khosla, Pegasystems | 15 April

Last week the US government announced that it was planning to introduce tougher economic sanctions against Russia for its actions in Ukraine. As the US and the European Union (EU) are in further discussions for increased sanctions against the former Soviet country, there is a presumption that there will be more sanctions coming that will impact trade and finance. If so, financial services will be one of the most strongly affected industries with multinational banks and organisations facing significant compliance risk challenges if they engage in any business with sanctioned persons or entities.

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