DUBAI, 26 September 2006 — Leading global capital markets trading firm, Henyep Investment yesterday became the first UK-based specialist foreign exchange and derivatives trading firm to be granted a license by the Dubai Financial Services Authority (DFSA) to operate from the Dubai International Financial Center (DIFC).
Henyep Investment is authorized and regulated by the UK Financial Services Authority and its new DFSA accreditation marks its commitment to providing a robust and transparent investment platform for its growing client base in the region.
The establishment of its new regional headquarters will allow Henyep Investment to build on its 25-year history in the Middle East, where it has become a market leader. It has built a strong network of both affiliates and clients throughout the region and plans to use the DIFC as a platform to further expand its core retail and institutional capital markets trading business that includes currencies, energy, metals, commodities, international equities and more.
“The foreign exchange market has ballooned to $2 trillion in daily turnover making it the largest capital market in the world. This coupled with huge investor interest in energy and precious metals related products such as crude oil and gold lead to a bright future for the sector in the region,” Louis Chiu, chairman of the Henyep Group, said.
Assem O. Kabesh, chief business development officer and board member at the DIFC, said: “The current infrastructure development boom in the Gulf, along with rising oil prices, is driving demand for price risk management of commodities in the region. Clients will benefit from Henyep Investments’ trading expertise and international market access.”
“The DIFC provides Henyep with a world-class platform from which to operate throughout the Middle East and allows us to build a strong foundation to extend into other group services such as wealth management, corporate advisory and China-related investment opportunities,” Chiu added.
