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."
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