ACM increases capital by Dh26m to Dh100m (~$27.2m) in the Middle East
Following the recent capital increase in the Swiss company, ACM's shareholders have also pumped more cash into the Middle Eastern subsidiary:
Advanced Currency Markets (ACM) Middle East and Asia, an online currency trading company, has increased its capital by Dh26 million to Dh100m, said a statement.
The capital increase, a move financed solely by existing shareholders, is aimed at fuelling the company's expansion strategies in the region and other emerging market, ACM Middle East and Asia Chief Executive Officer Saber Daboussi said.
Daboussi manages ACM's operations in the Middle East and Asia, a region which has contributed significantly to the award-winning FX trading firm's global bottomlines, accounting for 30 per cent of the firm's volumes worldwide.
"The step solidifies ACM's place as the most capitalised Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi broker in Switzerland, and allows us greater flexibility in pursuing our growth strategies in the region," he added.
Among its key growth strategies include securing its banking license, thus allowing ACM to offer a full suite of financial, investment and banking services in the region.
As well, ACM Middle East and Asia is focusing on growing its white label platform, and has now partnered with leading banks in the Arab World, allowing its clients to trade FX using ACM's award-winning platforms, as well as a proprietary technology called WYCIWYG (What You Click Is What You Get), the only one-of-its-kind in the industry, which enables clients the security and guarantee that the price they click on the ACM Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real is the actual price they are going to get.
Founded in Geneva, the company now maintains offices in Zürich, New York, Dubai and Montevideo.
Following the recent capital increase in the Swiss company, ACM's shareholders have also pumped more cash into the Middle Eastern subsidiary:
Advanced Currency Markets (ACM) Middle East and Asia, an online currency trading company, has increased its capital by Dh26 million to Dh100m, said a statement.
The capital increase, a move financed solely by existing shareholders, is aimed at fuelling the company's expansion strategies in the region and other emerging market, ACM Middle East and Asia Chief Executive Officer Saber Daboussi said.
Daboussi manages ACM's operations in the Middle East and Asia, a region which has contributed significantly to the award-winning FX trading firm's global bottomlines, accounting for 30 per cent of the firm's volumes worldwide.
"The step solidifies ACM's place as the most capitalised Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi broker in Switzerland, and allows us greater flexibility in pursuing our growth strategies in the region," he added.
Among its key growth strategies include securing its banking license, thus allowing ACM to offer a full suite of financial, investment and banking services in the region.
As well, ACM Middle East and Asia is focusing on growing its white label platform, and has now partnered with leading banks in the Arab World, allowing its clients to trade FX using ACM's award-winning platforms, as well as a proprietary technology called WYCIWYG (What You Click Is What You Get), the only one-of-its-kind in the industry, which enables clients the security and guarantee that the price they click on the ACM Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real is the actual price they are going to get.
Founded in Geneva, the company now maintains offices in Zürich, New York, Dubai and Montevideo.