Equiti Group today announced that its subsidiary Equiti Securities Currencies Brokers LLC has been granted OTC Derivatives and Foreign Exchange Spot Markets license by the UAE Securities and Commodities Authority (SCA).
The new license is under Category One for OTC Derivatives and Forex Spot Markets of SCA’s Regulations Manual of the Financial Activities – or ‘licensing rulebook’.
Iskandar Najjar, Co-founder and CEO of Equiti Group, commented:
Iskandar Najjar
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.
The conditions SCA has set include higher paid-up capital requirements for this activity. This has 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.
