Brunswick Securities, the U.S. affiliate of Moscow's Brunswick Brokerage, received National Assocation of Securities Dealers approval to begin trading local Russian shares with U.S. institutional investors.
Brunswick Securities, New York, is now permitted to sell underlying, ordinary shares of Russian issuers directly to institutional clients.
According to BSI, it is the first U.S. broker-dealer affiliated with an independent Russian brokerage firm to obtain authority to sell, self-clear and settle transactions in Russian equities to and for American institutional investors.
The firm has been trading Russian company ADRs since last year.
