Best Efforts Bank obtained the special status of a Qualified Foreign Institutional Investor (QFII) in mainland China

Best Efforts Bank (SPB Bank), a settlement depository for SPB Exchange, on January 14, 2022 became the first financial institution in Russia to obtain the special status of a Qualified Foreign Institutional Investor (QFII) in mainland China.

The China Securities Regulatory Commission (CSRC) has approved the license of a Qualified Foreign Institutional Investor (QFII) to Best Effects Bank. Obtaining a license will allow investors of SPB Exchange to buy and sell A-shares, quoted in Chinese yuan.

Over the past several years, China has continued to gradually open up the financial sector to attract foreign capital. The Qualified Foreign Institutional Investor (QFII) license allows foreign investors to buy a wide range of mainland Chinese assets: stocks, bonds, commodity products, derivatives and currency.

Vadim Timokhin, Director of the Financial Institutions Department of SPB Exchange, noted: "The strategy of SPB Exchange is aimed to provide a wide range of investment instruments for retail investors. Thus, obtaining the QFII status will expand the investment opportunities of Russian investors by providing access to a diverse range of assets of China's local stock market."

About PJSC «SPB Exchange»

SPB Exchange is the leading exchange for international securities in the Russian financial market. SPB Exchange operates according to a B2B2C model, simultaneously focussing on retail investors and financial intermediaries as direct customers. SPB Exchange provides investment opportunities for Russian and international investors by offering a wide range of investment products, following best-execution principles and using smart order routing. Opening at 7 a.m. Moscow time, SPB Exchange’s proprietary technology platform provides 19-hour access to an expansive pool of investment products of international financial markets, tight spreads, and unique liquidity.

As of 31 October 2021, more than 1,600 securities from foreign issuers, including shares, depositary receipts and Eurobonds, were being traded on SPB Exchange. SPB Exchange’s trading hours cover trading sessions on international exchanges, including regular as well as pre-market and a significant part of post-market trading in the United States and Europe.

SPB Exchange Group includes the subsidiary operating companies MFB Clearing Center (JSC), which provides clearing services, and PJSC Best Efforts Bank, which acts as a settlement depository.