Abu Dhabi-based international financial services firm, ADS Securities, has further extended its global product reach as the company just announced that it secured two additional regulatory licenses from the Hong Kong Securities and Futures Commission (SFC), according to an official company statement regarding its fully-owned Hong Kong subsidiary.
Through its ADS Securities Hong Kong Limited entity, the company obtained Type 1 and Type 2 licenses from the SFC, which will permit it to deal in securities and futures contracts respectively, and expands its permitted products from FX to a full-service multi-asset brokerage offering.
The effective dates of the two new licenses were listed by the SFC as May 26th 2016, and adding to the company’s Type 3 leveraged foreign exchange trading license that has been effective since August 2011 with the Hong Kong regulator following its acquisition of a local regulated firm.
The Hong Kong Securities and Futures Market is one of the most traded markets in the world.
Futures and securities join FX
According to people close to the company, the new licenses took the firm nearly 6 months to acquire, and now that it will be able to establish local agreements with stock exchange operators including execution and clearing agreements another 6 months should follow before its client’s can trade the additional futures and securities-related products.
The new products are expected to become available within the firm’s staple OREX platform, alongside existing FX and bullion products, and will help the company move closer towards catering for wealth management clients as its expanded product range can help meet the diversification needs of investors.
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The company has 10 staff at its HK office and plans to expand further as the scope of its product range expands from the new permitted trading products, as explained to Finance Magnates by people close to the developments.
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ADS Securities has a long term commitment to Hong Kong and we intend to continue improving and expanding the products and services we offer to our clients.
Expanded product offering
The company noted that local investors in Hong Kong will now have access to its related products including a full suite of FX, futures and securities via ADS Securities, following the license approvals, and how later this year clients will be able to trade global stocks, options, futures, and exchange traded funded (ETFs) with its competitive pricing and no minimum deposit.
Commenting in a corporate statement regarding the news, Francis Lee, Managing Director or ADS Securities Hong Kong Limited, said: “The Hong Kong Securities and Futures Market is one of the most traded markets in the world. In securing these additional licenses, our clients can now trade multiple asset classes and continue to rely on the high capitalization and access to tier one bank and non-bank liquidity that has made ADS Securities so successful globally.”
ADS Securities’ Chief Executive and Vice Chairman, Philippe Ghanem, added in the statement: “ADS Securities has a long term commitment to Hong Kong and we intend to continue improving and expanding the products and services we offer to our clients. The addition of these new business areas makes our position a lot stronger and allows us to provide greatly enhanced services which will benefit a range of investors.”