A new brokerage company quietly founded in Abu Dhabi four months ago is already trading more than US$2 billion (Dh7.34bn) a day of financial instruments and commodities, says its top executive.
ADS Securities, the brokerage arm of the newly formed ADS Holding, has hired traders from across the world to take advantage of the four-hour "time-zone gap" between the time when Asian markets close and European markets open, said Mahmood al Mahmood, the chairman and chief executive of ADS Securities and the chief executive of the holding company.
"Historically capital has left from here to other markets because we see that most of the capabilities are in other markets," said Mr al Mahmood, a former Abu Dhabi Investment Authority executive who has also held positions at Al Qudra Holding and the Emirates Securities and Commodities Authority.
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