Russia’s Alfa Capital boosts front-office tech
Alfa Capital aims to capitalise on efforts to make Moscow an international financial centre
Russian asset manager Alfa Capital has implemented SDX, SuperDerivatives real-time cross-asset front office system, for its structured products business.
The main appeal of the technology for Alfa is that it fills the company’s need for a pricing tool that can provide real-time indication of prices for structured products in cash and derivatives. The technology also includes pre- and post-trade deal management tools and analytics.
“Today’s Russian financial markets are demanding and highly competitive, requiring constant improvement in services,” said Evgeny Chernin, regional sales manager at SuperDerivatives. “Asset management companies such as Alfa Capital have an increasing need for the latest technology that enables accurate pricing, analysis and management of even the most innovative and complex structures.”
Russia’s capital markets have moved to attract international investors in recent years. The government is determined to build Moscow into an international financial centre. To that end, the country’s RTS and MICEX exchanges were merged at the end of 2011 to create a unified Moscow Exchange. The exchange is now planning its own IPO and is keen to wrest back business from its main competitor, the London Stock Exchange’s international order book, which lists major Russian companies.
In addition, reforms to the country’s clearing and settlement aim to make it easier for foreign investors to access the market. The creation of a central securities depository in November was a major step, since that effectively made it far easier and cheaper for US investors to participate due to the lifting on legal restrictions.
The range of products being traded has also increased. Earlier this month, Euroclear Bank began clearing and settlement of Russian government bonds – OFZs – a market worth $100 billion, according to figures provided by Baring Asset Management.
Moscow-based Alfa Capital was founded in 1996, and is part of a larger group that also includes commercial bank Alfa-Bank.
