Empower your investment decisions with advanced analytics focused on Ukraine

Access AI-based systems with the power to deliver domain-tuned, data-grounded and consistently structured analysis to make your decisions more efficient

Your trusted provider of comprehensive market expertise with valuable local insights

AYA Securities brings you a rare combination of profound Ukrainian context knowledge and practical experience in advanced economic research, with sociopolitical and geopolitical trends awareness, on-the-ground insights and AI engineering capability.

Exemplary insights from our previous reports

AYA Securities LLC

EDRPOU code: 344955326597

Legal Address: Ryzka street, 73g, office 7/2

E-mail: ayasec@ayacapital.com

+38 097 88 031 88

Kyiv, 04060

Ukraine

Advanced Multi-Agent Systems with domain-focused AI

We help you unlock valuable insights by using our proprietary platform of domain-tuned Multi-Agent Systems (MAS).

The core of this domain-specific AI architecture is built to support relatively (to general-purpose LLMs like ChatGPT) more structured, consistent, and data-grounded analysis in areas where we hold strong expertise: war scenarios, macroeconomic trends, the energy sector, and regulated gas and electricity price forecasts - all focused on Ukraine.

Designed to provide more valuable insights and enhance your decision-making compared with standard AI tools

While models like ChatGPT are useful for general reasoning and exploration, our platform offers:

  • More rigorous reasoning using domain-optimized reasoning paths.
  • More structured outputs with built-in source attribution, consistent scenario logic and output layout.
  • Greater knowledge depth in our focus areas, where we leverage proprietary workflows and domain knowledge.
  • Lower hallucination rates due to domain-tuned context development.
  • Enhanced accuracy for Ukraine-specific content due to targeted sourcing and more cautious generation.

Our Multi-Agent Systems are designed to complement human analysts by accelerating routine tasks and generating first-draft insights that can be verified or adjusted - not to replace expert judgment.

AI-driven research, built on expert analyst intelligence

To produce our reports we use advanced AI engineering techniques with agent-based workflows handling discrete tasks such as source selection, summarization, critical review, and formatting, with internal cross-domain memory system, non-public domain intelligence, curated data management and instructions based on insights built over years of Ukraine-specific work.

We incorporate 'human-in-the-loop' quality assurance as our systems are governed by seasoned domain specialists who inject hard-won off-market insight, audit output and retrain the pipelines continuously. The result: more structured, consistent, institution-grade analysis - already proven in Ukraine-focused use-cases. Our algorithms do more than “listen” to experts; they challenge them, cross-checking inputs critically to minimize potential biases and pre-validate insights.

Key functionality of our MASs

With purpose-built multi-agent workflows and a proprietary, domain-tuned Retrieval-Augmented Reasoning (RAR) engine, we produce reports that are organized, reference-based, and more suitable for institutional review than general-purpose LLMs like ChatGPT

1. More rigorous reasoning
How Our Systems Deliver It
  • Prompts, agent roles for our MASs and retrieval logic are designed from our multiyear Ukraine-specific experience and insights, producing an enhanced reasoning logic at the core of proprietary RAR engine for every domain.
  • Addressing inherent uncertainty in questions marked by variability, such as war outcome analysis, by prompting a scenario analysis and a curated ensemble of generated responses (also known as 'prediction fusion').
Why General-Purpose LLMs Fall Short

General-purpose LLMs rely on generic prompts and opaque internal heuristics, so reasoning paths are neither transparent nor domain-optimised. Each new thread starts “fresh”, so logical decomposition, factor weights and answer depth drift from run to run.

General-purpose LLMs return one stochastic forecast per call; users must loop and post-process themselves.

2. Consistent chain-of-thought across runs with ‘temporal and spatial coherence’ of answers
How Our Systems Deliver It
  • Pre-tuned, multi-agent, consistent multi-step automated workflows handling discrete tasks such as source selection, summarization, critical review, and formatting.
  • Memory management system that caches and recalls intermediate outputs and previous generations, ingests relevant cross-domain generated insights.
Why General-Purpose LLMs Fall Short

General-purpose LLMs’ reasoning logic is not consistent, lose earlier context, yielding divergent answers to identical prompts and forcing users to reconcile contradictions. Our systems better track past outputs and update them as conditions change - ensuring better consistency across time compared to general-purpose LLMs like ChatGPT

3. Enhanced accuracy and markedly fewer hallucinations on Ukraine-specific content
How Our Systems Deliver It
  • Senior-analyst QA loop with a system tweaking feedback whenever an inaccuracy/hallucination is detected.
  • Source-priority logic ranks input information by its recency and reliability.
Why General-Purpose LLMs Fall Short

General-purpose LLMs have no curated Ukraine knowledge base with source-priority logic or continuous human QA, so hallucinations and factual drift remain common.

4. Greater breadth and depth of contextual data, including non-public domain Intelligence
How Our Systems Deliver It
  • Context development with a vetted corpus of proprietary datasets, with instructions based on insights built over years of Ukraine-specific work:
  • curated open sources (IFI/think-tank/bank research, Western media)
  • non-public and not easily accessible data (poll data, social media scraping)
  • library of our own insights
  • Structuring of semi-structured data for RAG, such as pre-processing PDF reports, categorizing extracted data, and pre-parsing it into a separate database used for context enrichment.
Why General-Purpose LLMs Fall Short

General-purpose LLMs stacks index only easily-crawlable web data and cannot guarantee inclusion (or correct processing, structuring and weighting) of niche but critical sources. Our approach gives us a contextual advantage over general-purpose LLMs trained on broad global corpora and still lacking understanding of local (and often non-public) context.

5. Consistent output presentation
How Our Systems Deliver It
  • Use of API connectors with word processing applications.
  • Dedicated AI agents generate layout-consistent visuals and tables for every report.
  • Use of ‘few shots’ (exemplary prompts) technique to achieve consistent formatting and explainability.
Why General-Purpose LLMs Fall Short

General-purpose LLMs return snippets, files with truncated processed data, and/or erratic illustrations that users must post-process, format and/or standardise by hand, risking inconsistencies.

On what next updates we are working on now

(Last updated on September 12, 2025)

Here’s what’s in progress in terms of updating our systems - it will be coming soon in the next versions of our reports:

  1. Broader coverage. We are expanding expert-tuned workflows into new domains and geographies, starting with a wider coverage of Ukraine-focused topics. Next up: labour costs and taxes in Ukraine.
  2. Sharper visuals. We are upgrading the visualization layer for more coherent, publication-ready analysis for institutional review, with relevant charts, tables, and narratives.
  3. Deeper reasoning. We are improving relevance, consistency, and reasoning depth through LLM fine-tuning, other post-training techniques, and supporting data-engineering pipelines.
  4. Stronger domain logic. We are raising accuracy in domain-specific reasoning with more advanced scraping, parsing, RAG, and memory-management frameworks.
  5. Robust forecasting. We are integrating forecasting algorithms optimized for stochastic, illiquid environments.

Available Now

Stay ahead with our AI-powered analytical reports and make more informed decisions today:

(NB. publication date should be added)

Report

Report

Report

While we add new features and increase the scope of our coverage continuously, you can already enjoy the valuable content created by using our sophisticated algorithms and techniques.

Provide Feedback

We value your opinion. Please let us know how we can improve our reports and services.

Choose one of the two options to access reports:

1. Purchase Reports Directly in Our Partner's Shop

Access AI-powered, domain-tuned, and expert-governed analytical reports focused on Ukraine in the shop of Balgove Innovations LTD, our partner in enabling intelligent investments.

Visit the Shop

2. Join the AYA Community

Become a member to gain privileged access to our full suite of AI-powered analytical reports. Fill out the form below to request membership.

About Us

Our Mission

At AYA Securities, we prioritize the use of cutting-edge solutions to foster the development and democratization of local capital markets. We are working on innovative ideas aimed at widening the range of investment instruments available to Ukrainian investors, making capital markets more accessible, efficient, and transparent — all in support of a strong and prosperous Ukraine.

Recognizing that efficient capital markets begin with informational efficiency, we have entered into collaboration with Balgove Innovations LTD to develop advanced algorithms designed to address one of the fundamental challenges of the Ukrainian market: poor data availability, questionable reliability, and the inefficient processing of even the limited data that exists. Our joint efforts focus on transforming fragmented and inconsistent information into actionable insights for investors, providing them with expert-governed, data-grounded analysis in the form of reports.

In alignment with our commitment to innovation and market development, we now offer an opportunity to become part of the AYA Community. All members gain privileged access to our AI-Powered Analytical Reports, created to support intelligent investment decisions and to promote the growth of Ukraine’s financial ecosystem.

Our Team

We have a small team with deep market knowledge and a proven track record in advanced economic research for complex tasks in Ukrainian realities. The core of our team is Yuriy Vitrenko and Oleksandr Vedenieiev.

Want to be a part of the team?

Our History

AYA Securities, established in 2010 through an acquisition of a securities broker, supported the advisory services of its sister company until 2014. After russian aggression, its core team shifted focus to energy sector reforms, paused brokerage services, and the company switched into operating mostly as a family office. The firm is resuming its activity now, planning to expand its services post-war to support Ukraine's market development and recovery.

Our Team

Photo of Yuriy Vitrenko

Yuriy Vitrenko

A recognized reputable figure in Ukrainian and EU markets, Yuriy brings over two decades’ experience with foreign investments in Ukraine Big4 (consulting to foreign investors), Major International Investment Bank (major M&A deals in Ukraine), PE (mid-cap investments by a US PE firm in Ukraine), managing the largest Ukrainian company and being the acting Minister of Energy in 2020-2021 (including working with foreign investors).

A proven advocate for market reforms, Yuriy has a unique blend of global investment banking and public-sector leadership, with a record steering complex cross-border deals and corporate transformation under acute macro stress. Industries: natural resources, energy, finance, defence, expertise in geopolitics and domestic politics.

Yuriy holds an MBA from the INSEAD international business school (France, Singapore) and is an is an ACCA member.

Photo of Oleksandr Vedenieiev

Oleksandr Vedenieiev

Oleksandr is a CFA-certified analytics leader with 20 years of experience in financial and energy markets. He led the analytical side of Ukrainian national O&G champion for 5 years and shaped the economic case for gas sector reforms, also having experience of leading analytical teams in some largest Ukrainian banks, supporting negotiation of multibillion-dollar cross-border deals, and covering the broad industrial analysis in Ukrainian economic landscape.

Oleksandr pairs capital markets fluency with on-the-ground operational insight, including AI/data innovations that deliver critical edge in opaque environments of emerging and frontier market investing.

Oleksandr holds a Master's degree in Banking, a degree in International Private Law from, and such certifications as CFA and ERP (Energy Risk Professional).

Photo of Pavlo Illiashenko

Pavlo Illiashenko

Pavlo has 18 years of experience in academic research, economic and investment strategy. His career spans roles from an analyst to the director of research and asset management at a leading Ukrainian investment bank.

Since 2017, he has been a lecturer at Tallinn University of Technology (TalTech), teaching various finance courses from a behavioural finance perspective, while advising the Centre for Economic Strategy think tank.

Pavlo holds advanced degrees in finance from Kyiv National University of Economics and Columbia University, and a Ph.D. in Financial Economics from TalTech, where his research was focused on the impact of national culture and economic populism on financial decisions.

Want to be a part of the team?

Contact Us

Contact Us

Have a question, a feedback about our products, or want to get in touch about joining the team? Send us a message.

AYA Securities LLC

EDRPOU code: 344955326597

Legal Address: Ryzka street, 73g, office 7/2

+38 097 88 031 88

Kyiv, 04060

Ukraine

Our History

2010-2014: A Strategic Partner on Ukraine’s Market

Established in 2010 through the acquisition of a securities broker from a large Ukrainian bank, AYA Securities operated as a licensed brokerage and an integral part of financial advisory services of its sister company until 2014. During that period, the company complemented investment banking activities of AYA Capital, and offered robust research through its AYA Research team.

2014: A Pause with a Purpose

In 2014, following russia’s aggression, the firm’s leadership refocused on institutional reforms in Ukraine’s energy sector, helping to resolve critical inefficiencies and participating in successful arbitrations against russian entities. Consequently, AYA Securities paused its brokerage operations, transitioning into a family office while evaluating potential investment opportunities.

2025: Positioned for the Future

Looking ahead, AYA Securities expects that, after the war, Ukraine will emerge as a Western-oriented state with deeper global capital market integration and increased role of private foreign capital. Under these conditions, the company is resuming its activity, with plans to expand its services focused on local capital markets democratization, contributing to Ukraine’s economic recovery, and leveraging its expertise to support transformative investment projects.