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.
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“The step solidifies ACM’s place as the most capitalised forex 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 is the actual price they are going to get.
Founded in Geneva, the company now maintains offices in Zürich, New York, Dubai and Montevideo.