Exclusive: Salim Sebbata Appointed Senior Executive Director at IMS Forex

Finance Magnates has learnt that Salim Sebbata has taken up a new role as Senior Executive Officer at IMS Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term (IMS FX) in the United Arab Emirates (UAE). Speaking to Finance Magnates this Wednesday, Sebbata said that he joins IMS FX Group Limited as their Senior Executive Officer in Abu Dhabi to set up the firm’s Middle Eastern Hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term.

Commenting on the issue, Sebbata said: “I am excited to be joining IMS FX Group at this time of rapid global expansion. There is a strong movement of Chinese investors into the UAE and we plan to allign with this, offering novel products and solutions to the market. We are grateful for having been one of the first brokerages being licensed by ADGM and look forward to engaging with the local and Chinese investing community”.

Lijun Zhu, chairman of the board of IMS FX Group said: “We are grateful to have secured Salim Sebbata to head up or business in the Middle East. As a seasoned professional he will help us execute our global growth plans in what is a very competitive field. The group is committing significant resources to activate our ADGM license and business”

Industry Veteran

Prior to his recent move, Sebbata spent two years with one of the major players in the retail trading industry - CMC Markets, helping them develop their Middle Eastern business and navigate the licensing processes.

Sebbata started his career in the late 90s. He was a German Private banker at Merrill Lynch until the mid-2000s when he moved to London to build E*TRADE’s International Sales team based in Canada, HK, Sweden, Denmark, Germany, France and the UK.

He went on to become the Managing Director of the UK business and then moved to Dubai to head up the Middle East expansion for the firm as the licensed director in the Dubai International Financial Centre.

From 2010 to 2015 he held significant management roles at Mubasher Financial Services a Saudi-owned DMA brokerage leader including Head of Retail, Head of Marketing and MD for the UAE broker.

He obtained a central bank license in Bahrain for FX and CFD and built and managed the team for the product line.