BCS Global Markets Close to US Debut Via Alforma Acquisition
Entry to US market on target as Finra approves BCS’s acquisition of New York-based inter-dealer broker.
The acquisition opens the path to the North American market for Moscow-based BCS, which currently accounts for 25 percent of securities trading across all asset classes on the Moscow Exchange, as it seeks to capitalize on a growing appetite for Russian securities from the US.
Upon completion of the deal, Alforma Capital Markets will be renamed BCS Americas and provide brokerage and investment services to US-based institutional investors seeking to access Russian securities market.
"Amidst a challenging global backdrop, we have been granted regulatory approval from Finra," said Roman Lokhov, chief executive officer of global markets and investment banking at BCS, in a statement. "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."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Exclusive: Terry Duffy on CME’s cloud future, takeover targets, and ... candy
CME CEO Terry Duffy explains the relatively narrow strategy that the derivatives exchange has taken under his leadership, especially compared to its peers.
Waters Wavelength Ep. 307: The shrinking OMS landscape
This week, Tony and Nyela discuss FactSet’s recent acquisition of LiquidityBook and what it could signal for trading technology.
Banks urged to track vendor AI use, before it’s too late
Veteran third-party risk manager says contract terms and exit plans are crucial safeguards.
Market data woes, new and improved partnerships, acquisitions, and more
The Waters Cooler: BNY and OpenAI hold hands, FactSet partners with Interop.io, and trading technology gets more complicated in this week’s news round-up.
Waters Wavelength Ep. 306: Reykjavik and market data
Reb is back on the podcast to talk about her trip to Reykjavik, as well as two market data reports released this month.
BlackRock tests ‘quantum cognition’ AI for high-yield bond picks
The proof of concept uses the Qognitive machine learning model to find liquid substitutes for hard-to-trade securities.
JP Morgan, Eurex push for DLT-driven collateral management
The high-stakes project could be a litmus test for the use of blockchain technology in the capital markets.
For AI’s magic hammer, every problem becomes a nail
A survey by Risk.net finds that banks are embracing a twin-track approach to AI in the front office: productivity tools today; transformation tomorrow.
