Our History

ELIDI Securities Ltd (ex. UGM Securities Ltd) was founded as a boutique company by two brothers, Ruslan Adilbaev and Zhaslan Adilbaev, who were two initial Executive Directors of the Company. Both brothers started working together in LLC IVA Partners (ex. LLC Univer Capital), where they created a strong team that led Fixed Income Department. On September 15th, 2016, ELIDI Securities Ltd (ex. UGM Securities Ltd) was incorporated.

In December 2017, the Company received license from the Cyprus Securities and Exchange Commission for investment and ancillary services. Zhaslan Adilbaev was the first sole shareholder and ultimate beneficial owner of the Company since its foundation. The initial capital of the Company was EUR 1,000,000.

In 2019, Askhat Sagdiev, injected additional funds (EUR 2,500,000) and became the second shareholder and ultimate beneficial owner of the Company with 60% of shares.

In 2021 Ruslan Adilbaev left the Board of Directors and focused on the development of proprietary trading in the affiliated Company, ELIDI Capital Ltd.

In 2022 Askhat Sagdiev decided to quit business and sell his shares to the existing shareholder, Zhaslan Adilbaev. After the approval of the Commission was received, the ownership of ELIDI Securities had changed. This year the share capital of the Company was increased to EUR 5,000,000.

Meanwhile, Ruslan Adilbaev became the shareholder and ultimate beneficial owner and Chief Executive Officer of LLC IVA Partners. In the end of 2022, Ruslan Adilbaev left the Boad of Directors.

In 2023 Zhaslan Adilbaev sold all his shares in ELIDI Securities Ltd to his brother, Ruslan Adilbaev, deciding to concentrate on the development of other financial markets, such as Kazakhstan and Hong Kong. This year it was decided to change the name of the Company from UGM Securities Ltd to ELIDI Securities Ltd. CySEC’s approval for both change of ownership and change of name was received.