TAIF-INVEST: integration of Tatarstan into stock market of Russia
Realnoe Vremya continues special project TAIF-25 dedicated to the anniversary of one of the largest multisectoral holdings of Russia. In 1997, at the beginning of January TAIF-INVEST, a professional participant of the stock market and one of the oldest companies forming the Group, was created. This issue tells what projects the company that left positives marks in the social and economic life of the republic was involved in and why the Dealing Centre was created and a little bit more.
Among the largest financial companies
In the 90s, the situation in Russia changed overnight. The country was approaching the building of new ownership relations. The coming of owner of records (frequently they were shareholders who don't take part in real turnover) after voucher privatization of quite a wide stratum of shareholders inexorably led to the advent of the unorganized stock market along with those who wished to sell obtained shares and those who wanted to buy. At the same time, a necessary infrastructure started to develop: the Russian Trade System (RTS) and the Professional Association of Stock Market Participants were founded. The association united brokerage companies of Moscow, consequently, was renamed the National Association of Stock Market Participants when regional brokerage associations joined it.
The most far-sighted of businessmen and heads of the regions understood the great potential and the importance of the stock market in the creation of a new economy, and that on the spot the processes of the formation of the stock market couldn't leave unattended. On the contrary, they needed to be structured and channeled avoiding a criminal component.
Under these conditions, the administration of TAIF decided to create a professional participant on the stock market in order to represent TAIF in the new economic reality and facilitate the integration of the Group of Companies both into the Russian and to the international economic space. Consequently, in January 1997 TAIF founded the TAIF-INVEST brokerage firm, which obtained all the necessary licences on dealer and dealer-broker activities and the activity on fiduciary management on the stock market.
Key projects of the company
From the moment of its foundation till the present time the TAIF-INVEST company was involved in many common projects with the participation of issuers of Tatarstan. Karpov Chemical Factory is among the first clients of TAIF-INVEST, whose shares were traded to the Russian Trade System that were supported by the company as a market maker.
Specialists of the company took part in the share trading programme of enterprises of the republic on Russian and foreign stock markets. They participated, particularly, in the Issuance Programme of the American Depositary Receipt on shares of Kazanorgsintez, Nizhnekamskneftekhim and Nizhnekamskshina.
The company participated in the preparation of loans over the bond financing of IntelSet PJSC as an agent on initial public offering and organizer of the secondary circulation later.
The bond owner got the right to pay security in advance by means of the unscheduled installation of the deficit for that times landline, so it was the main impetus for bond purchase. As a result, phones started ringing in several thousands of flats of Kazan and Naberezhnye Chelny. TAIF-INVEST was actively involved in bond placement of the first in the republic mobile network operator TAIF-TELCOM PJSC of Santeltrademark. It borrowed additional financing for the construction and development project of the mobile network of Tatarstan. The secondary market of that securities was organized in the Russian Trade System, which created a precedent for the corporate bond trading in the field. Earlier in the largest Exchange of Russia at that momentonly shares were sold. Bond trading of TAIF-TELCOM to the organized trading floor was fulfilled as one of the first in the country along with the shares of large enterprises such as Gazprom, Tumen Oil Company and Lukoil. It was a federal programme.
Open space for traders
On the assumption of the goals, which were set during the foundation, the base of the clientele of TAIF-INVEST consisted of large corporate clients and, firstly, the companies of the TAIF Group. However, at the beginning of the noughties more and more people started to study market tendencies and work with securities.
At that moment, geographical remoteness from the financial centres, underdevelopment of the regional infrastructure significantly impeded the exit to the trading floor organized by local investors. Few people heard about the Internet and only a handful could use it. And people frequently had to go to Moscow to purchase or sell shares and securities.
Within the scope of the company, the Dealing Center was created in June 2000 with the aim of the maximal approach of the population of the republic to the active work on the stock market. Then TAIF-INVEST offered modern standards of brokerage service that were not available in the region.
In Dealing Centre there was an opportunity to take part in the deal-making process of the largest trading floors of Russia in real-time mode: on the Moscow Interbank Сurrency Exchange, Russian Trade System and in the guaranteed quotation system of the RTS.
The Dealing Centre became a certain open space for traders: here they followed financial quotes, called their remote office, discussed tendencies in the economic life of the country. Thousands of citizens of Kazan, who were interested in security trading, got an opportunity to experience an overall effect of presence in a trader's working post.
Nowadays the format of brokerage services changed with the advent of IT on the Internet. The clients of the Dealing Center communicate with company traders, follow the dynamics of financial quotes, display and withdraw requests, and make deals from their own computer in remote access mode from any place of Russia and worldwide.
Unhackneyed approach
Service market on the stock market of Russia hasn't had a very lucky streak since the crisis in 2008: the number of participants reduces, many brokers have less active clients and the market has been complicating requiring more professionalism. Under these circumstances, a lot of regional investment companies, for instance, well-known Elemte, TatInC and others left the market. Their places were occupied by largest federal brokers, literally every one of which has offices in our region.
Remaining the only non-bank company with a player 'that has a local registration', TAIF –INVEST set a goal of an aggressive increase of the market share. The company still consolidates its positions in its niche – an unhackneyed approach to the interests of the enterprises of the republic and face-to-face work with clients.