Alforma Capital Markets, Inc., a New York-based US broker dealer, has taken a step closer to being acquired by BCS Global Markets, the largest securities broker on the Moscow Exchange, by achieving formal regulatory approval from US regulatory body FINRA (Financial Industry Regulatory Authority).
The transaction is expected to close within a couple of weeks, and will signify the official launch of operations for BCS Global Markets into North America, the world’s largest capital market. Once finalised the firm will be renamed BCS Americas Inc., and will provide brokerage and investment services to US-based institutional investors seeking to access Russian securities market.
With a significant market share of trades on the Moscow Exchange, reaching 25% of securities trading across all asset classes, BCS Global Markets has already received positive interest from local institutions, bearing witness to the growing appetite for Russian products in the US.
Luis Saenz, Head of Equity & Trading, Alforma Capital Markets (BCS Americas Inc.), commented:
“US-based institutions are the leading international investors in both emerging and Russian markets. The launch of BCS Global Markets’ operations in the US is confirmation of the Group’s ambitions to further develop investment from the region, and continue to tap into this exciting market.”
Roman Lokhov, Chief Executive Officer of Global Markets and Investment Banking at BCS, added:
“Amidst a challenging global backdrop, we have been granted regulatory approval from FINRA. This development is testament to how, in the past three years, BCS Global Markets has become one of the leading financial institutions in Russia through strategic investment in market expertise, products and infrastructure. As a result, we are now perfectly suited to bring these operational benefits to the US market.”
In the past three years BCS has become one of the leading independent financial institutions in Russia through strategic investment in market expertise and infrastructure. Its research team is one of the top rated internationally, and boasts robust best execution, financing capabilities and prime brokerage services.