One of the largest brokers in the Russian financial markets, BCS Prime Brokerage (BCS), has unveiled its latest solution to reduce latency on the popular London to Moscow data route. The firm reported that it has launched the fastest line between the two closely knit financial market places; the move comes on the back of growing trade alliance between London and Russia, and London’s aim to be a financial hub for emerging market FX trading.
BCS Prime Brokerage, an FCA regulated entity is the international division of BCS Financial Group (BCS FG). Via its new connection, BCS offers its clients multi asset trading capabilities on the Russian Exchange. The new London to Moscow connection is the first of its kind where latency has been reduced to 39 milliseconds, thus connecting users to the Moscow’s M1 data-center from the InterXion data center in London. BCS has added its back up center to sit in a central location, the firm chose back up locations in Frankfurt.
Managing Director of BCS Financial Group, Michael J. Barmettler, commented about the new solution in a statement, he said: “The implementation of this new ultra-low latency connectivity service between London and Moscow establishes once again that BCS is leading the industry by offering our clients the best possible platform to maximize their Russia trading strategies and profits. This ongoing dedication to the latest technology is why BCS Prime is the first choice when it comes to trading Russian markets successfully.”
Russia is fast becoming a destination for investors to diverse their portfolio as the country is home to a wide range of natural resources. GDP growth rate have been impressive over the last decade, despite a slight fall in 2009-2010, however the Russian government expects growth rates to average 3.4% over the next few years (in a statement to the IMF in 2012). BCS is the largest trader of equities and derivatives on the Moscow exchange by turnover and has 13% market share of equity trading.
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On the flip slide, London has been a magnet for Russian firms looking to dual list or IPO for greater market exposure. London becomes the preferred destination for Russian firms who raised a staggering $24 billion in 2007, despite the global recession and global uncertainly still prevalent, Russian firms have raised over $8 billion last year (2012).
Key stats about the London – Russian IPO market
- 115 Russian & CIS companies on Main Market & AIM
- 44 Russian listed GDRs on the Main Market and 8 Premium companies.
- Overall raised in new and further issues $71.2bn
- Total number of listed Russian companies is 67 (52 on the Main Market)
Source London Stock Exchange