REFILE-Abu Dhabi broker ADS to enter UK in 2014, starts pricing the yuan | Reuters:
"Abu Dhabi-based forex and commodities trading firm ADS plans to gain a licence to operate in the UK by early next year and has become one of the first Middle East brokers to start pricing the Chinese currency for customers in the region, its managing director said.
ADS, which is privately owned by investors from the United Arab Emirates, plans to set up an asset management and wealth management business next year and hopes to receive an FSA license from the United Kingdom before the end of this month as part of its international expansion strategy, Philippe Ghanem, managing director and vice chairman, said.
"We at ADS are looking at launching an asset management and wealth management business next year. We now have a fixed-income trading and capital markets brokerage business," he told Reuters in an interview in Abu Dhabi."
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