Functional model of QUBE Token

Functional model of QUBE Token Details

During the three months ended December 31, 2020 and 2019, fees and commissions generated from brokerage, underwriting and market making and related banking services were $74,333 and $20,583 respectively, an increase of $53,750. Investments in nonconsolidated managed funds are accounted for at fair value based on the net asset value (“NAV”) of the funds provided by the fund managers with gains or losses included in net gain on trading securities in the Condensed Consolidated Statements of Operations and Statements of Other Comprehensive Income. Over the last few years, Gazprombank’s Private Banking team completed a significant effort to develop its product and service lines and to improve advisory processes in order to establish long-term relationships with its customers based on mutual trust. According to a survey of Gazprombank’s Private Banking customers, 82% of respondents selected the “top mark” for the Bank’s performance. Amid the financial instability of the past year, Gazprombank’s Private Banking recommended that its customers apply a conservative approach to managing their savings which enabled customers to both avoid material losses and even increase income under the unstable global conditions. In 2011, the Bank managed to significantly increase their asset base and the number of Private Banking customers and improved the profitability of this business line for the Bank. • The Bank is financing projects as part of the Russian Federal Space Program and Federal Special-Purpose Program Development of Television and Radio Broadcasting in the Russian Federation from 2009 to 2015.

  • Interest income on trading securities consists of interest earned from investments in debt securities and dividends earned on equity securities held in our proprietary trading accounts.
  • Attracting funding from the team at the initial stage of project development through an additional emission of 0.5% of the total emission of QUBE tokens on the platform.
  • The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized.
  • As a result, the adequacy ratio for the banking system’s capital was 14.7% as of January 1, 2012 having dropped by 3.4 percentage points compared with January 1, 2011.

The approved risk appetite provides a basis for setting limits to control the risk exposure of individual transactions, portfolios and counterparties. From time to time, our subsidiaries are party to various routine legal proceedings, claims, and regulatory inquiries arising out of the ordinary course of their business. Management believes that the results of these routine legal proceedings, claims, and regulatory matters will not have a material adverse effect on our financial condition, or on our operations and cash flows. However, we cannot estimate the legal fees and expenses to be incurred in connection with these routine matters and, therefore, are unable to determine whether future legal fees and expenses will have a material impact on our operations and cash flows.

Functional model of QUBE Token

This growth is primarily attributable to the purchase of additional debt securities in our proprietary trading portfolio and favorable market conditions. As of December 31, 2020, around 83% of our trading portfolio consisted of debt securities, compared to approximately 56% as of March 31, 2020. The funds necessary to acquire the additional securities in our proprietary trading portfolio were raised primarily through collateralized securities financing arrangements. Under U.S. GAAP we are required to revalue assets and liabilities denominated Forex news in foreign currencies into our reporting currency, the U.S. dollar, which can result in gains or losses on foreign exchange operations. During the three months ended December 31, 2020, we realized a net loss on foreign exchange operations of $1,413 compared to a net loss of $1,080 during the three months ended December 31, 2019. Our operating subsidiaries provide financial services including full-service retail securities brokerage, investment education, securities trading, investment banking and market making activities in Eurasia.

Financial Service Сomission and Liquidity Control

Customer funds will remain the primary source of resources for the Bank and must account for about 70% of the Bank’s liabilities. RUR 2.7 billion in 2010, which was mostly a result of the significant increase in lending operations. This allows you to qualify for a portion of the commissions proportional to the user’s contribution to the pool and liquidity tokens . The Qube team receives 1,75% of the total emission of tokens, which are additionally issued when distributing rewards among the community. The maximum reward will be directed to liquidity pairs that include the QUBE token in order to support initial demand and stimulate community growth.


During the nine months ended December 31, 2020 and December 31, 2019, the Company recorded expenses for share based payments for consulting services in the amount of $517 and $836. As of December 31, 2020, and March 31, 2020, the Company had restricted customer cash deposited in current and brokerage accounts with related parties in the amounts Forex of $82,443 and $25,563. As of December 31, 2020, and March 31, 2020, the Company had financial liability with related parties totaling $1,602 and $0, respectively. During the three months ended December 31, 2020, and 2019, the Company earned commission income from related parties in the amounts of $56,243 and $17,067, respectively.

We are headquartered in Almaty, Kazakhstan, with supporting administrative offices in Russia, Cyprus and the U.S. As described in more detail below, FSCLC on December 29, 2020, the Company completed the acquisition of Prime Executions, an agency only execution broker dealer registered with the SEC.


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Published on May 26, 2021 by


Member since: July 27, 2016

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