Speed Traders Wanted: Russia Brokerage Courts Fastest U.S. Firms
- BCS works with 10 American algo traders, looking to expand
- Expansion plan coincides with Bank of Russia crackdown
Moscow, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Algorithmic and high-frequency traders in the U.S. may soon get even greater access to Russian markets.
BCS Financial Group, one of Russia’s biggest brokerages, agreed in October to purchase a New York-based unit of AO Alfa Bank. It expects regulatory approval by the end of 2015. Should that happen, BCS aims to use the acquired business to give American automated trading firms and other clients increased access to the Moscow Exchange.