Financial Supervision Authority issued activity licence to investment firm Admiral Markets
The Financial Supervision Authority issued an activity licence to investment firm Admiral Markets AS. Admiral Markets AS offers the possibility to make currency derivative transactions with a security deposit through the website www.forextrade.ee .
The activity licence for the investment firm grants Admiral Markets AS the right to provide services related to foreign currency exchange, if those are related to the provision of investment services. The activity licence also gives the right to receive, from customers, orders for performing and executing foreign currency transactions in the name or on behalf of the customer. Admiral Markets AS also has the right to give loans to investors for performing securities transactions on the condition that the lender itself is related to the transaction in question.
Members of the management board of Admiral Markets AS are citizen of the Republic of Bulgaria Chavdar Dragiev and citizen of the Republic of Lithuania Valerijus Ovsianikas. Members of the supervisory board are Alexander Tsikhilov, Dmitri Laush and Alexander Stanovoy. Sole shareholder of the company is Pervaja Natsionalnaja Gruppa, a company registered in Russia.
There are seven investment firms operating together with the new market participant in Estonia today: Admiral Markets AS, AS GILD Financial Advisory Services, AS KIT Finance Europe, AS SEB Enskilda, AS Trigon Securities, Cresco Väärtpaberite AS and Evli Securities AS.