27 May 2021
Sova Capital is now a full member of the Association for Financial Markets in Europe (AFME), a designation which enables the London-based broker to expand custody services for regulated Russian clients.
Russian regulation requires an enhanced coefficient for collateral purposes when safekeeping assets at a foreign organization with no special authorization in Russia. Through the membership with AFME, Sova Capital begins to meet the criteria and requirements of the law on the securities market and is now included in the approved list of foreign organizations keeping records of securities, which is published by the Central Bank of Russia. The list was reviewed on May 25, 2021, confirming the addition of Sova Capital.
AFME membership also grants Sova Capital access to join different AFME divisions at a working group level and be part of ongoing industry discussions and developments.
We would like to thank AFME for their cooperation and for welcoming Sova Capital as a member.