Prime Brokerage A Rising Force In Middle East?

Tuesday, 16/09/2014 | 00:01 GMT by Mitch Eaglstein
  • FX prime brokerage in the Middle East in on the rise for a variety of reasons. Dubai, for example, with its strategic location.
Prime Brokerage A Rising Force In Middle East?
Photo: Bloomberg

FX prime brokerage in the Middle East in on the rise for a variety of reasons. Dubai, for example, with its strategic location between Asian and European trading hubs is a strategic location to cater to clients from Japan to London.

In addition, with the growth of burgeoning economies nearby such as India, China, Russia and the GCC countries there is a vast scope of institutional clients that require a credible Prime brokerage such as Fortress Prime to assist in the long term development and future. The infancy nature of the FX in these countries and the lack of saturation of Prime brokers makes the Middle East one of the new frontiers for FX Prime brokers.

FX prime brokerage in the Middle East in on the rise for a variety of reasons. Dubai, for example, with its strategic location between Asian and European trading hubs is a strategic location to cater to clients from Japan to London.

In addition, with the growth of burgeoning economies nearby such as India, China, Russia and the GCC countries there is a vast scope of institutional clients that require a credible Prime brokerage such as Fortress Prime to assist in the long term development and future. The infancy nature of the FX in these countries and the lack of saturation of Prime brokers makes the Middle East one of the new frontiers for FX Prime brokers.

About the Author: Mitch Eaglstein
Mitch Eaglstein
  • 7 Articles
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About the Author: Mitch Eaglstein
Mitch has extensive experience in Senior Level management of OTC related software and brokerage companies. Having worked previously as Managing Director at Boston Prime Ltd, Mitch was also CIO of FXCM Systems, LLC which was the result of a deal between FXCM Holdings and Avalon Capital Holdings, wholly owned subsidiary Traders Development. As part of this deal Mitch setup a software firm in Seoul, South Korea. While at Avalon he was the COO and was instrumental in the development and distribution of the proprietary Avalon FX Pro trading platform, now owned by FXCM. Prior to that, Mitch was the Chief Operating Officer at a California-based Futures Commission Merchant (a "FCM") registered with the National Futures Association. In that capacity, he performed numerous operational roles in the areas of Sales, Customer Service, Marketing, Trading and Compliance and Capital raising. Mitch has extensive experience in Senior Level management of OTC related software and brokerage companies. Having worked previously as Managing Director at Boston Prime Ltd, Mitch was also CIO of FXCM Systems, LLC which was the result of a deal between FXCM Holdings and Avalon Capital Holdings, wholly owned subsidiary Traders Development. As part of this deal Mitch setup a software firm in Seoul, South Korea. While at Avalon he was the COO and was instrumental in the development and distribution of the proprietary Avalon FX Pro trading platform, now owned by FXCM. Prior to that, Mitch was the Chief Operating Officer at a California-based Futures Commission Merchant (a "FCM") registered with the National Futures Association. In that capacity, he performed numerous operational roles in the areas of Sales, Customer Service, Marketing, Trading and Compliance and Capital raising.
  • 7 Articles
  • 6 Followers

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