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 a number of Russian clients.
Russian regulation requires 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 is now included in the approved list of foreign organizations (depositories) in Russia published by the Central Bank. The list was reviewed May 25, 2021, confirming the addition of Sova Capital.
AFME membership also grants Sova Capital access to join various working groups. So far, Sova Capital representatives are participating in groups focused on: Compliance, Control & Accounting; Equities; Equity Capital Markets; Government Affairs/EU Policy; Post Trade; Prudential Regulation; Technology & Operations.
