Sova Capital, a London-based emerging markets broker-dealer, on Monday said it has entered into an agreement with India INX to allow the latter's clients to access the Russian market.
"The partnership will create a cost-effective bridge for Indian investors to access trading on the Moscow Exchange (MOEX), Russia’s main trading venue for equities, bonds, derivatives, FX and money markets," India INX said in a statement.
India INX Global Access IFSC Ltd has launched a platform through which Indian clients can trade foreign stocks.
The tie-up with Sova Capital, an International Clearing Member of MOEX, will provide an outbound connection to all India INX Members and their clients to access all instruments on MOEX and trade the global markets directly from India.
“Today, markets are integrated and India INX, as an offshore exchange, has made the first but critically important step by offering a unified marketplace that provides access to global markets directly from India. We strongly feel that our cooperation opens new prospects for mutually beneficial business relations between Moscow Exchange and India INX and further deepens financial ties between India and Russia,” said Tatiana Primak, Sales Director, Sova Capital.
V. Balasubramaniam, MD & CEO, India INX, said: "We are happy to tie up with Sova Capital in our effort to broaden the access of domestic investors to international markets. We strongly believe this partnership shall further increase the international proposition and attract greater participation on the India INX platform.”
Since 2007, Sova Capital (a UK-based and FCA-regulated broker dealer) has utilised its significant balance sheet and product solutions to provide both buy-side and sell-side clients with a global offering covering execution services, prime financing, custody, stock-loan, and repo services across both emerging and developed markets.
India INX, BSE’s international arm, commenced its trading activities on January 16, 2017, and is India’s first International Exchange set up at GIFT IFSC.