Edgewater Markets, which offers liquidity and execution solutions for forex trading, is expanding its presence in Dubai as it sees “significant long-term opportunities across the GCC, wider MENA and Western Asian regions.”
The Company Ramped Up Local Hiring
The company has ramped up its hiring in Dubai, as it is investing in its presence in the region through people and office facilities.
“Dubai is an important location for Edgewater Markets Group given its strategic position between Europe and Asia, together with its growing importance as an international financial centre,” said Richard Elston, who joined the company earlier this year as a Strategy Consultant.
His responsibility within the company is specifically to support the establishment of its Dubai operations.
Read more: After a Decade at CMC Markets, Richard Elston Joins Edgewater Affiliate EWMP
“For more than 17 years, the group has operated across international markets, supporting institutional market participants through multi-asset liquidity, market infrastructure and institutional connectivity. As part of our continued growth strategy, we are strengthening our presence in Dubai and expanding the team and relationships that will support the next stage of the business.”
Launched in 2009 in New York, Edgewater opened offices in London and Singapore in the following two years and now operates globally from several locations.
“We see significant long-term opportunities across the GCC, wider MENA and Western Asian regions and believe Dubai is a natural location from which to further develop our international footprint,” Elston continued.
Indeed, the move also makes sense, as several trading industry brands are now setting up operations in the UAE, particularly in Dubai.
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Closer to the Clients
The regulator in the country is offering a tiered operational licence to fully licensed service providers, including contracts for differences (CFD) brokers, giving them operational legitimacy in the country.
Most brokers have obtained an introducing broker-equivalent licence from Dubai’s regulator, while only a few big names have secured full brokerage status. The reason is obvious: the entry-level Category 5 licence is much cheaper and has minimal operational requirements compared to the Category 1 licence.
It remains unclear whether Edgewater will also seek a Dubai licence, but it is very likely, depending on the services it offers.
