Otkritie takes on GlobeClear 05 July 2011Moscow Reporter: Ben Wilkie
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J.P. Morgan Worldwide Securities Services' GlobeClear business has been appointed to provide clearing and settlement services for Otkritie Capital (Otkritie), the Russian financial services group, when executing trades on Chi-X Europe.
“We are seeing increasing interest in the Russian depositary receipts market as clients look to broaden their trading strategies and associated connectivity. Otkritie’s membership of Chi-X Europe will help them meet this demand for trading depositary receipts listed overseas,” said Mike Reece, market manager for banks and broker dealers for J.P. Morgan Worldwide Securities Services EMEA.
“GlobeClear provides clients with access to multiple markets and ever greater freedom and flexibility in their trading needs. We look forward to working with Otkritie and helping their clients to access new pools of liquidity.”
Roman Lokhov, CEO of Otkritie Capital said: “We look forward to building on this important relationship with J.P. Morgan, which provides us with greater access to key European markets and significant liquidity.
J.P. Morgan’s unrivalled reputation in providing access to new markets will continue to allow Otkritie to help our clients and broaden our presence on a global scale.”
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