BCS Global Markets, the investment banking division of Russian broker BCS, has reported record-breaking equity and derivatives trading performance for the first quarter of 2020. Extreme market volatility caused by the coronavirus pandemic and ongoing oil price shocks has seen record trading volumes across asset classes at the Moscow Exchange. The Average Daily Volume (ADV) of the Russian equity market amounted to RUB140.8 billion (USD1.9 billion) in March, up 283 per cent year-on-year and up 72 per cent since February 2020. ADV for Russian stocks totaled RUB98.68 billion (USD1.45 billion) in Q1, the highest since 2012, representing 171 per cent growth from Q4 of 2019.
BCS, which provides brokerage, investment banking, and corporate banking services to institutional, corporate clients, and high net worth individuals, saw its equity turnover reach a record RUB1,977 billion (USD26.6 billion) last month – the highest monthly volume the firm has ever witnessed. Throughout Q1, BCS also saw sustained equity trading, with volumes reaching RUB872 billion (USD13.6 billion) in February and RUB805 billion (USD13 billion) in January.
As a result of continued strong performance, BCS’s equity trading Moscow Exchange market share was 33 per cent, as of March 2020, according to figures released by the exchange. The next largest firm in the market currently has a market share of 9.97 per cent.
In addition, BCS – also the highest volume derivatives trader on the Moscow Exchange with 25.48 per cent market share – achieved its record performance in March for derivatives trading, reaching notional volumes of RUB7,937 billion (USD106.8 billion).
BCS Global Markets CEO, Roman Lokhov, says: “The firm’s sustained success in 2020, despite the ongoing market turbulence and global disruption, demonstrates the robustness of BCS Global Markets’ infrastructure, as well as the confidence both domestic and international investors have in our expertise and solutions.”
“It’s clear to see from our performance that we’re the most established and trusted broker in the Russian market today. Our ‘straight-through processing’ architecture, market leading expertise and unique offering will be key to ensuring we continue to service and maximise opportunities for our clients that arise during these testing times,” adds Lokhov.
