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The Dubai International Financial Centre (DIFC) has strengthened its position as the preferred choice for leading international brokerage firms in the UAE, with 70 firms now registered at the centre.
According to a press release issued by the centre today, 12 brokerage firms in 2023 obtained a licence to operate from the Dubai Financial Services Authority, the independent regulator of financial services conducted in or from the Dubai International Financial Centre.
According to the center, this growth reflects the opportunities available to brokers, as most of the new companies come from the Middle East, Africa, South Asia, Europe, the United Kingdom, and the United States.
Five of the DIFC brokerage firms are ranked among the top 10 brokerage firms in the world by volume, including BGC Brokers L.P., GFI Securities Limited, Interactive Brokers, TBI CAP Limited, Tradition Limited and Vantage Capital Markets. These and other DIFC brokerage firms offer a full range of trading execution and brokerage services.
“The continued momentum underscores Dubai’s appeal as a global financial services hub and the world-class value proposition that DIFC offers to industry players,” said Salman Jaffery, Chief Business Development Officer, DIFC Authority. “The large base of 70 international brokerage firms underscores the Centre’s commitment to strengthening Dubai’s position as a leading global financial market.”
It is noteworthy that the Dubai International Financial Centre announced achieving record growth in the first half of 2024, recording a total of 6,153 active companies, a significant increase of 24% year-on-year from 4,949 companies in 2023.
This total included 820 new firms fully licensed and registered by the Dubai Financial Services Authority; an increase of 24% compared to the same period last year, making it the largest gathering of financial firms in the Middle East, Africa and South Asia region, and a beacon for the region’s fast-growing and evolving markets.
Brokerage firms offer a wide range of services, connecting buyers and sellers to complete transactions, including stocks, fixed income and commodities.
