27 Nov 2018
This month Sova Capital was named the Best International Futures Broker (2018) by Saint Petersburg International Mercantile Exchange (SPIMEX), the largest commodity exchange in Russia responsible for 20% of refined products on local commodity market.
In 2016 SPIMEX launched a physically-settled future contract on Urals Crude oil. The aim was to establish a transparent, market driven benchmark for Russian Export oil and increase interest from the international commodity community, ranging from large oil producers and refineries to trading houses.
From day one of this initiative Sova Capital provided its full support, becoming a trading and clearing member of the exchange in 2017 and providing agency execution and clearing services on SPIMEX from London. Together with its clients, Sova Capital has played an active role in the development of this market.
Reflecting on Sova Capital’s performance – Grigoriy Kozin, Head of Global Prime Services, comments: “we at Sova Capital are very pleased to be recognised as the best international futures broker on SPIMEX. This recognition is further testament of Sova Capital’s commitment to developing the Russian local market, improving market infrastructure and making the market place for international participants more accessible”.