Russian Broker BCS Gains FCA Approval

The Moscow-London connection is strengthened as one of Russia’s leading financial markets firm launches its international arm, in the world’s financial capital. BCS Prime Brokerage Limited (part of BCS Financial Group) has been granted UK regulatory authorisation by the Financial Conduct Authority (FCA), to deal and advise on investments and hold client assets.

London’s position as a respected international financial centre continues and the establishment of BCS reinforces London’s relationship with Moscow. The London Stock Exchange (LSE) has been a preferred destination for Russian firms going for IPO or dual listing. The LSE saw 43% of Russian IPO volume since January 2010 to date.

BCS Financial Group an experienced player in the domestic Russian markets for nearly 20 years, states on its website that it is ranked #1 on Russia's MICEX exchange by turnover with a 10%-15% market share of equity trading. In addition the Russian broker is ranked in the top 3 brokers in on-exchange derivatives and FX trading in Russia.

A representative of the company informed Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates in a telephone interview today, that the company is a prominent player in Russia’s FX markets with monthly volumes in excess of $20 billion and the firm has just commenced trading on EBS.

BCS maintains a leading position in the Russian financial markets across equity, futures and options, fixed income, repo and currency trading.

Speaking about the FCA approval Joseph Dayan, Executive Director and Head of Markets said in a press briefing: “BCS is committed to building a robust and transparent European business which can provide clients with both cost-effective and efficient Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term, as well as insightful and quantitative research. All members of the team have been hand-picked to maximize our skill set and we are confident that we can deliver a premium service to our global clients.”

BCS has been keen to enhance its global business, apart from Russia and now London, the firm has an office in Cyprus. The firm first entered the London market in 2012 and was operating under the trading name of BCS Financial Group.

Roman Lokhov, CEO of Global Markets and Investment Banking at BCS Financial Group said in a statement: “We are delighted to have reached this important milestone in our global business development. In launching our European operation, BCS Financial Group is able to expand its product offering and is well positioned to take advantage of the increased transparency and structural changes occurring in the Russian market, for the benefit of its institutional investors.”

Update: BCS representatives have provided updated volumes dated.