ADS Securities a unit of ADS Holdings based in Abu Dhabi, the capital of the United Arab Emirates said it will launch securities and futures services in the second quarter next year in Hong Kong as reported by The Standard, Hong Kong’s biggest circulation English daily newspaper.
The trading will be promoting the ADS Securities proprietary online multi-asset trading platform OREX, which was launched back in 2013. ADS Securities Hong Kong was set up in December of 2013 as a regional headquarters with a supporting office in Singapore to capitalize on the growing Asia-Pacific region coveted by many in the retail brokerage industry.
Managing director of ADS Francis Lee said “Hong Kong is the perfect location due to its proximity to China and Taiwan.” The Middle Eastern firm has spent HK$94 million on its Hong Kong arm with HK$30 million spent on licenses.
ADS is applying for type one, two and six licenses from the Securities and Futures Commission of Hong Kong for dealing in securities, future contracts and advising on corporate finance. The article stated that management has recruited about 20 staff and estimated it will triple its workforce in the near future.
In other Asia-Pacific FX industry news, Japanese brokerage Rakuten Securities completed the acquisition of forex trading brokerage FXCM Asia yesterday.
To read more about the OREX Platform offering from ADS, click here.