Asked about locating ADS Securities in Abu Dhabi, Ghanem, managing director and vice chairman, told e-Forex (www.e-forex.net): “Capital, stability, time zone and opportunity were all behind ADS Securities’ decision to set-up in the Middle East.Abu Dhabi is quickly developing into an important financial hub and has a reputation as a city where you can do business. The company was established by forward-thinking local investors who realized that there was a gap for a well-capitalized FX company operating from a regulated and stable marketplace.”
Abu Dhabi, sits between the financial centers of the Far East and Europe, allowing flow to be managed between these markets Ghanem observed.
In Pathways for achieving higher speed FX connectivity, author Dan Barnes, examines the increased adoption of Algorithmic FX trading coupled with the growth of FX trading on exchanges and the launch on new FX ECNs. Barnes asks whether these trends are making connectivity more complex and potentially more costly for trading firms.
The article quotes FX authority Jubin Pejman, FCM360 managing director, who told eForex: “New regulations are forcing a lot of people out of the energy and commodity markets, which were typically very stable. Capital has to go somewhere. Entire divisions of people are being laid off, they can’t just move to another shop as the rules affect every firm, so they are looking at other asset classes.”
Pejman, whose FCM360 offers managed services and technology in the derivatives sector, added, “The reason FX has blown up in size is that many countries, such as Singapore, Hong Kong, China and Japan, are making it easy to get into the market.”
In a report titled, Choice, Consolidation, Customization: picking the winners in the race for FX Aggregation – e-Forex explores the challenges facing sell-side firms in dealing with price aggregation and how a new generation of specialists are emerging to provide algorithms, tools and workflows based around the customer’s individual preferences and trading policies.
FX aggregation services have gained a significant foothold globally and particularly in Asia where interest in FX aggregation is growing rapidly. “Over the last two to three years, we have seen a significant number of firms set up in the region,” said Alex Knight, global head for Citi’s FX margin trading business, which offers an aggregated liquidity management service, CitiFX TradeStream. Citi launched the service in November 2012 to serve mid-level institutions.
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