“Equiti is thrilled to be one of the first global brokers to be awarded this new category license by the UAE’s Securities and Commodities Authority.”
Equiti Securities Currencies Brokers LLC, a subsidiary of the Equiti Group, has been granted an OTC Derivatives and Foreign Exchange Spot Markets license by the UAE Securities and Commodities Authority (SCA).
The SCA license further sets Equiti apart from its competition as the broker continues to collect authorizations from top financial watchdogs across the globe.
High regulatory standards has been a priority for Equiti and the stringent requirements set by SCA, including the higher paid-up capital requirements for this activity, have brought the UAE on par with global regulatory standards and positions the SCA as a top tier regulator in the advanced financial markets of the Middle East and UAE.
Equiti Group’s UAE operation is currently made of 80 employees specialized in data, business development, product and innovation, sales, regional client service, and retail operations. The entity supports the global business from Dubai in English or Arabic.
The new license allows Equiti to operate Over-The-Counter (OTC) Derivatives and Foreign Exchange Spot Markets under Category One of SCA’s Regulations Manual of the Financial Activities – or ‘licensing rulebook’.
Iskandar Najjar, Co-founder and CEO of Equiti Group, commented: “Equiti is thrilled to be one of the first global brokers to be awarded this new category license by the UAE’s Securities and Commodities Authority.
“Our vision is to create a best-in-class client experience and regional oversight by the UAE’s global standard of regulation is core to achieving this. Equiti Group is extremely pleased to contribute to the UAE’s flourishing success and its progressively developing financial sector.”
Mohamed Al-Ahmad, CEO of Equiti Securities Currencies Brokers LLC, and Co-founder of Equiti Group, added: “With the addition of our new UAE SCA license, our clients in the region can be confident that they are dealing with one of the most well-regulated and progressive brokers in the Middle East.
“We are proud to be operating in the UAE, a market that is committed to world class regulation and implementing global best practices, and that shares our values about environmental concerns, social responsibility, and good governance.”
Gaurang Desai, Managing Director of Strategy at Equiti Group, said: “The UAE has always been a pioneer in drafting regulation and in leading the way in developing the industry across multiple asset classes; more recently digital assets. “We are excited to collaborate with the regulatory bodies in developing a safe, sustainable and globally comparable investment industry in the UAE.”
The new SCA license will fortify the company’s international trajectory as the company continues to apply for new licenses in various global locations to enter new markets with the right governance in place.
Equiti Securities Currencies Brokers LLC is regulated by the UAE’s Securities and Commodities Authority as a Category One Broker for Over-the-Counter Derivatives Contracts and Foreign Exchange Spot Markets, under license number 20200000026.
The broker has a firm presence across the globe, with local offices in Europe, the UK, the Middle East, the Americas, Africa, and the Asia Pacific. Equiti supports multi-asset trading through leading platforms MT4 and MT5.