CMC Markets Connect, the liquidity and white label trading solutions arm of London based online brokerage CMC Markets (LON:CMCX), has had a physical presence in the United Arab Emirates since 2019 and has now announced the further expansion of operations from its upgraded Dubai office.
Richard Elston, Group Head of Institutional at CMC Markets Connect, 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.”
In addition to a comprehensive currencies and commodities offering, CMC Markets intends to roll out its cash equities product suite (subject to regulatory approval) to institutional clients. This enables a wide range of global stocks to be added to a portfolio, with new regional and international markets set to be added in the coming months.
CMC Markets Connect 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, ensuring continuity for existing clients in the region.
Richard Elston added:
“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 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.”
CMC Markets Connect provides sculpted liquidity to a global institutional client base of banks, brokerages, funds and dealing desks. Its continuous innovation and investment in trading technology means that it is able to respond consistently to changing markets. Through a single connection, CMC Markets Connect clients have access to multiple asset classes worldwide allowing them to seamlessly execute their chosen strategy and increase revenue potential.
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.
CMC Markets Plc (“CMC”) was established in 1989 and is now listed on the London Stock Exchange. The company is one of the world’s leading online financial trading businesses serving retail and institutional clients through regulated offices and branches in 12 countries, with a significant presence in the UK, Australia, Germany and Singapore. CMC Markets offers an award-winning, online and mobile trading platform, enabling clients to trade over 14,000 financial instruments across shares, indices, foreign currencies, commodities and treasuries through contracts for differences (“CFDs”).
