Authors: Yekaterina A. Nesterenko, Dr. Sc. (Econ.), Professor, Head of Finance Dept., Saratov Socio-Economic Institute (affiliated branch of Plekhanov Russian University of Economics)

Yulia V. Semernina, Dr. Sc. (Econ.), Professor of Finance Dept., Saratov Socio-Economic Institute (affiliated branch of Plekhanov Russian University of Economics)

Oksana V. Somova, Postgraduate of Finance Dept., Saratov Socio-Economic Institute (affiliated branch of Plekhanov Russian University of Economics)

Abstract. Due to the increasing role of the Russian foreign exchange market in the process of ensuring stability of the national financial system, the issues of government regulation of the foreign exchange market in the Russian Federation have lately become of considerable importance. The authors of the article believe that government regulation of the Russian foreign exchange market should be improved in two different directions – regulatory and infrastructural. The analysis of the current state of the foreign exchange markets in Russia and abroad allowed the authors to conclude that the development of legal framework regulating the activity of currency exchange of the national currency market should include toughening control over the grey foreign exchange market and elimination of ambivalent regulation. Measures aimed at improving market infrastructure which serves the process of currency trading should embrace: a greater independence of trade organizers and encouraging healthy competition between them; a radical increase in the number of tools available in the currency market in combination with maintaining an acceptable level of liquidity; round­the­clock work of currency exchange; and ensuring uninterrupted currency trading (elimination of technical failures).

Keywords: Forex dealer, currency quotations, market maker, investors, stock exchange

For citation: Yekaterina A. Nesterenko, Yulia V. Semernina, Oksana V. Somova. Strategic Directions for Improving Government Regulation of the Currency Market in Russia. Upravlenets – The Manager, 2016, no. 2(60), pp. 2–9.