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Russian brokers such as BCS and Otkritie have made big pushes in London of late.

BCS Gains FCA Authorization, Launches Brokerage

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Russian financial group BCS Prime Brokerage has gained regulatory approval from the UK's Financial Conduct Authority (FCA), and is launching its international brokerage business.

The company has built out new technology for access to Russian and core global markets over the past 18 months, along with hiring a series of directors from companies such as Renaissance Capital, Unicredit, Liquidnet and rival Moscow-headquartered broker Otkritie Capital.

"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," says Joseph Dayan, executive director and head of markets. "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 Financial Group, its parent company, ranks first on the Moscow Exchange for equity and derivatives volumes, and second for foreign exchange volumes.

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