Marat Ibragimov, Senior Analyst BCS Global Markets discusses the outlook for the real incomes of Russians for 2018, the recent selloff of Magnit GDRs, the launch of trading of X5 GDRs at the Moscow Exchange, the prospects of M.Video in the current market environment, the equity case of Obuv Rossii as well as the planned SPO of Detsky Mir.
BCS Global Markets hires Stuart Samuels as director of equity sales trading in London, Luis Saenz, co-head of global equities at BCS Global Markets in London, tells Bloomberg. Prior to BCS, Samuels was EM sales trader at Oppenheimer Europe since 2013.
Saenz says BCS is strengthening team amid MiFID II transition:
We are getting additional business purely on an execution-only basis on back of the regulation, and the only way to properly service the additional demand is by expanding our team
Since MIFID II has split trading from research, a trader at a fund can now vet the markets they trade in and add brokers directly, without having to get the portfolio manager’s input.
“All traders focus on is the best execution. And for us having the largest market-share in Russia is a natural advantage versus global houses as their local Russia footprint is much smaller”
NOTE: BCS was the most active broker for Russian equities by trading volume on the Moscow Exchange, as of December.
At BCS, Samuels will report to Mark Cleary, who heads sales trading team in London.
A message from management of BCS Global Markets
The continuously evolving nature of the global coronavirus situation has meant we at BCS Global Markets (BCS) are taking all necessary steps to keep business disruption to an absolute minimum.
Effective from today (Wednesday 18th March) employees from all divisions of the business based in our Russia, UK, USA and Cyprus offices who can work from home without creating any even minor possible risk for business continuity of the Group will be working remotely. It is very much business as usual at BCS. Our employees are equipped with secure access to our systems and will follow their normal working hours, keeping in regular contact with their colleagues and clients.
Despite ongoing disruption caused by COVID-19, we want to also assure you that following a sustained period of positive performance, our capital and liquidity position remains very strong. The business is well-placed to meet any subsequent financial challenges and will continue to go above and beyond for our clients.