Abstract: The author suggests measures to be taken for the effective implementation of the Concept of creating an international financial center in the Russian Federation. The research focuses on current problems of creation and development of an international financial center in the Russian Federation. It tries to analyze what prevents to establish the major financial institutions of international importance in Russia and how social, economic and political situation in the world affects the potential of the Russian economy. Also, the research considers organizational and legal possibilities of establishing an international financial center in Russia. The methodological basis of the study includes the general dialectical method as well as special research methods such as systemic and structural, detailed sociological, technical and legal, historical and legal, and comparative law. The application of these methods has allowed the author to explore the problems in their relation, integrity, in the most comprehensive and objective manner. At present, all signs point to the lack of the regulatory framework and effective regulatory mechanisms for the option market as well as unsustainable national economy. These negative factors have a significant influence on the creation of the option market; therefore, its further development is possible only if they are eliminated. The absence, to the present time, of uniform state policy aimed at development of the market of financial tools bears the risk that in the foreseeable future in Russia this market would not be optimal but rather speculative.

Keywords: Russian legislation, Russian economy, financial system, MFC legal framework, public policy, prospects, creation of the option market, potential, financial crisis.