Best Efforts Bank is the first bank in Russia, which offers special clearing services for professional market participants. The Bank acquired strong expertise in providing clients with single cash position and portfolio margining as well as classical banking services such as settlement and cash services and access to the trading venues of Moscow and Saint-Petersburg Exchanges. In 2015 Bank’s assets grew steadily and in the beginning of 2016 Bank was given high rating from Expert Rating Agency (A), which allows Best Efforts Bank to work with Insurance companies’ reserves. Currently the Bank provides services for about 40 clients. It has strong positions in Moscow Exchange rankings and is leading among other banks in terms of clients’ balances on broker accounts. The Bank is focused on IT and outsourcing solutions for its clients, remote identification of the client and back office services for small and medium companies.
Four main business directions of the Bank
- Classical banking services – this part of business includes settlement and cash services for different types of clients such as legal entities, individual entrepreneurs, individuals in private practice, credit institutions and individuals. Besides, significant part of the Bank’s business is represented by such classic services as deposits and loans, which are provided to individual customers.
- Intermediary for legal entities – the Bank provides services of access provision and the following maintenance of clients on domestic and foreign markets (the Bank already has accounts in Citi Global Equities Markets) – Stock, Derivatives and Currency markets as Exchange and OTC. Now the Bank’s core idea to widen this direction of business is to widen the variety of international markets for the clients and give more opportunities to Russian legal entities to get access to foreign exchanges.
- Custody services - Delivery Versus Payment settlements in NSD, Euroclear and DTCC.
- Perspective focus – now the Bank is highly focused on new IT solutions for its clients so far as the heart of the Bank’s strategy are the customers of the Bank – now the major direction for future development is the simplified identification of the client what should facilitate all subsequent client communication with the Bank.
The Group of companies description
Best Efforts Bank represents NP RTS Group of companies which consists of highly interconnected legal entities such as:
- Saint Petersburg Exchange (the boost project of SPB exchange is Russian Global Equities Market with 55 top-liquid international equities from S&P 500 list, in short perspective is planned to widen the list of equities traded on SPB from 55 to thousands);
- OTC Market RTS Board (the oldest and the biggest OTC market in Russia);
- RTS Tender (operating 2nd largest state procurement electronic trading platform in Russia);
- Clearing center MFB;
- Nonprofit part with unique amount of services for its members and individuals (including financial magazine called Financial One and websites dedicated to education in financial sphere).