CMC Markets Connect upgrades Dubai office, plans to launch cash equities offering
“The UAE is fast establishing itself as the next global financial hub, with its location being ideal for multinational companies such as ourselves to support operations both in European and Asian markets.” – Richard Elston, Group Head of Institutional at CMC Markets Connect.
CMC Markets Connect, the renowned provider of liquidity and white label trading solutions to the institutional market, has announced the further expansion of UAE operations from its upgraded Dubai office.
The company, which has had a physical presence in the United Arab Emirates since 2019, will be staffing the office using both the incumbent team, plus a mix of locally recruited staff as well as a series of relocations from across the global business.
“This will be just the first step in our regional expansion plans” – Richard Elston
The new DIFC location not only ensures continuity for existing clients in the region, but also extends the firm’s commitment to the MENA region.
Richard Elston commented: “Our move into a new, bigger office in Dubai underlines both the growth we envisage in – and our commitment to – the region. The UAE is fast establishing itself as the next global financial hub, with its location being ideal for multinational companies such as ourselves to support operations both in European and Asian markets. Local institutions are eager to deploy capital with counterparties in the Emirate and there’s a healthy supply of highly skilled, multilingual employees, too. Our expectations are that this will be just the first step in our regional expansion plans.”
CMC Markets Connect to add cash equities product suite
Besides already providing a comprehensive currencies and commodities offering, CMC Markets Connect has plans to roll out a cash equities product suite to institutional clients, covering a wide range of global stocks, with new regional and international markets set to be added in the coming months. The launch of the cash equities offering is subject to regulatory approval.
“Momentum in financial markets across the UAE and more specifically in Dubai has been building for years. The decision to switch to a Monday-Friday working week at the start of 2022 has however been instrumental in cementing its position as a cornerstone of the global financial ecosystem. I am confident that the new office will allow us to continue building on our already strong reputation across the Middle East”, Richard Elston added.
CMC Markets Connect provides “sculpted liquidity” to banks, brokerages, funds, and dealing desks through a single connection to its multi asset class offering.
CMC Markets is regulated in multiple jurisdictions, by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investment Commission (ASIC) in Australia, Monetary Authority of Singapore (MAS) in Singapore, by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in the EU, and the Dubai Financial Services Authority (DFSA) in Dubai.
