BCS gains FCA authorisation in UK

The UK’s Financial Conduct Authority has authorised BCS Prime Brokerage, the UK arm of Russian financial group BCS, to conduct business including dealing and advising on investments and holding client assets.

The authorisation officially marks the launch of the BCS international brokerage business, although it has been busy since 2012 preparing its London offices.

BCS Financial Group has some two decades of experience in banking and brokerage, and is one of the major players in Russia’s financial markets. it currently ranks first in terms of equity and derivatives volumes on the Moscow Exchange, and second for FX volumes.

As recently noted by InvestmentEurope, the group is seeking to expand its European business out of London, which itself is often described as a de facto financial capital of Russia – although Russian authorities are keen to revert this back to Moscow.

BCS said it would keep building both its headcount and market share through London over the next year to 18 months. The London business is intended to operate as an independent secondary market participant, BCS said.

Joseph Dayan, executive director and head of Markets said: “BCS is committed to building a robust and transparent European business which can provide clients with both cost effective and efficient execution, 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.”

Roman Lokhov, CEO of Global Markets and Investment Banking at BCS Financial Group said: “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.”


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