Companies linked to the group outside its audited subsidiaries

analysisGLEIF records three Hong Kong companies linked to the group: The Ultima Investment Hong Kong Limited (company number 75381887, created on 5 June 2023, formerly BCS Investment Hong Kong Limited) and The Ultima Products HK Limited (75650820, created on 25 August 2023, formerly BCS Products HK Limited), both renamed with effect from 28 November 2024, and The Ultima Asia Limited (77294155, created on 7 November 2024). None of the three records names a parent company. The Ultima Products HK Limited's website says the company, registered under number 75650820 in Hong Kong, specialises in manufacturing structured products and acts as their issuer. ^{1 2 3 4}

analysisSpidertek Ltd (Cyprus HE 378454) was created on 29 December 2017 as Rivercross Ventures Limited and renamed with effect from 4 May 2023, according to GLEIF, which names no parent company. The Cyprus register's open data list Natalya Annenkova as its sole director. The register gives no identifiers for officers, and the records state no relationship between Natalya Annenkova and Alexey Annenkov. ^{1 2 3}

analysisLTM SV LLC, registered in St Vincent and the Grenadines (1245 LLC 2021) at the Griffith Corporate Centre, Kingstown, was created on 14 July 2014; GLEIF lists its previous names as BCS Markets Ltd, BCS Markets LLC (after a change of name and legal form effective 9 July 2021) and The Ultima Markets SV LLC, with the current name effective from 4 April 2025, and names no parent company. A trade publication covering the retail trading industry reported in January 2025 that the offshore forex broker BCS Markets (earlier BCS Forex), registered in St Vincent and the Grenadines and described as part of the Russian BrokerCreditService group and a sister brand of the Russian forex dealer BCS-Forex, had quietly renamed itself Ultima Markets, operated by Ultima Markets SV LLC at the same address; its description of the renaming as an attempt to escape a 'toxic' association is the publication's own interpretation. In December 2024 the same publication reported that BCS Markets had told clients that deposits to and withdrawals from its account at BCS Bank would stop on 12 December 2024 and that from 13 December payments would go through Ardshinbank and bank cards; BCS Bank had been added to the US sanctions list on 21 November 2024. ^{1 4 5}

analysisBrokstock SA (Pty) Ltd, a South African company (2020/523823/07) created on 2 July 2020 and named BCS Markets SA (Pty) Ltd until a change effective 2 December 2024, describes itself as a financial services provider authorised by the Financial Sector Conduct Authority (FSP No. 51404) that acts only as an intermediary in contracts for difference offered by liquidity providers and does not make markets. Its app and website offer retail clients CFDs on shares, currencies, metals, ETFs, commodities and crypto-assets, and the app description advertises 8% to 11% annual interest on available balances. On a consumer review platform, which does not verify its reviews, Brokstock had 110 reviews with an average rating of 4.4 out of 5 in October 2026; one review of 12 October 2026 called the company scammers after a month-long compliance block on the reviewer's account. The company replied that the use of a third party's account had complicated the reviewer's profile and that its compliance team was still investigating. ^{6 7 8 9}

analysisThe DMCC Authority's list of transfers of incorporation records FG AVIATION LLC DMCC (registration number DMCC199243), formerly FG AVIATION LLC of St Vincent and the Grenadines, registered and transferred on 29 March 2024, with a service licence issued on 17 July 2024. The records reviewed do not establish whether this company is the FG Aviation Ltd. listed in the BCS group of persons or the LLC FG Aviation that the group disposed of; GLEIF holds no LEI for either name in this form. ^{1 2}

analysisHeelveil Ltd. is a Seychelles international business company (registration 024801, created on 7 December 2005) registered care of a corporate services firm in Victoria; its LEI lapsed with a renewal date of 25 October 2025 and its record names no parent. LEI publications reproduced by a company-information aggregator show Heelveil as the former ultimate parent of LLC BCS-Commodity Markets (until 4 September 2019) and of LLC Mezhregionalny Spetsializirovanny Depozitary (until 31 July 2019), and as the former direct and ultimate parent of JSC Management Company of Funds (until 4 August 2022). ^{1 2}

analysisA bond-data provider names Antonis Stefani as the beneficiary of Heelveil Ltd. A list of affiliated persons of the Russian management company UK URALSIB as at 4 March 2020 includes an Antonis Stefani among the persons belonging to the same group of persons as that company from 19 December 2019. The provider is a secondary data source, and the beneficial owner of Heelveil was not found in any registry record. ^{3 4}

analysisThe list of affiliated persons of JSC Management Company URALSIB, later BCS Wealth Management, as at 4 March 2020, signed by its general director, records Siberian Investments LLC as its sole shareholder from 19 December 2019. It lists as belonging to the same group of persons, mostly from that date, FG BCS LTD, BrokerCreditService (Cyprus) Limited, Brokercreditservice Structured Products PLC, BCS Prime Brokerage Limited, BCS Americas, Inc., BCS Capital (DIFC) Limited, BCS Markets Ltd and FG Aviation Ltd. (both at Suite 305, Griffith Business Center, Kingstown), BCS Investment Management Ltd. (Cayman Islands), Kertina Group Ltd, Seldthorn Private Equity Limited, Routa Luxury Services Ltd, Danofe Trading Limited, BCS Global Markets Holding PLC (from 15 January 2020), Spidertek Ltd (from 21 January 2020), JSC BCS Bank and BrokerCreditService Company LLC, together with individuals including Oleg Mikhasenko, Vitaly Shelikhovsky, Alexey Vladimirovich Annenkov, Edward Golosov, Anton Gordin, Rafik Abasov and Gary Martin Esayian. A 'group of persons' under Russian competition law can rest on ownership, control or management ties, and the list does not state the basis of each entry. ¹