In October 2023, Hormoz Faryar joined ATFX as the Managing Director of Institutional Sales in MENA. With over 23 years of invaluable experience in FX trading and sales, Hormoz brings a wealth of knowledge and expertise to his new role. Today, Hormoz will share insights into the opportunities in the MENA region and how he will help expand the brand in upcoming projects.
Hi Hormoz, as the Managing Director of Institutional Sales in MENA, please tell us why you joined ATFX. Can you provide an overview of your role as the Managing Director at ATFX Connect, the institutional brand of ATFX group?
Hormoz Faryar: "There are several reasons for joining ATFX, and most of them relate to client solutions and employee empowerment. Within our industry, ATFX stands out as a remarkable organization that prioritizes creating innovative and effective solutions for its clients. What's unique about my journey is that I had the privilege of working alongside almost 10 ex-colleagues who are now part of ATFX's 700+ talented workforce. This gave me an intimate understanding of the exceptional work environment and culture even before joining.
As the Managing Director of Institutional Sales at MENA, my role is primarily focused on overseeing our institutional client business. This involves working from our new A-class Dubai office and leveraging ATFX's extensive resources, cutting-edge technologies, and global reach to provide top-notch service and support to our valued institutional clients. In this dynamic and forward-thinking environment, I am empowered to take on new challenges and continually enhance my professional skills.
By joining ATFX, I am confident that I have aligned myself with a company that not only values its employees but also prioritizes excellence in client solutions. I am excited to be part of an organization that fosters growth, encourages innovation, and truly cares about delivering exceptional results to both its clients and employees."
What do you see as the key challenges and opportunities for ATFX Connect within the MENA market? And what strategic initiatives do you plan to implement in order to expand ATFX Connect presence in the region?
Hormoz Faryar: “The financial services sector in the MENA region is highly competitive, with both local and international players vying for market share. ATFX Connect must effectively differentiate itself to stand out in this crowded market. Moreover, the region has diverse regulatory landscapes, with each country having its own set of regulations and compliance requirements. Navigating through these regulatory frameworks can be challenging for financial institutions.
However, the MENA region is witnessing a growing interest in financial markets, driven by economic diversification efforts, increasing wealth, and both young and mature demographics with a penchant for technology. The growth of technology and demands in the MENA financial sector presents opportunities for ATFX Connect to leverage innovative solutions and digital platforms to reach and engage with clients more effectively. In the same time, investors in the region are increasingly seeking diversified investment products beyond traditional asset classes. ATFX Connect can capitalize on this demand by offering a wide range of investment options and tailored solutions.
ATFX Connect adheres to regulatory requirements in each operating country, following local laws and regulations and striving to maintain high standards. Tailoring products, services, and marketing efforts to cater to the specific needs and preferences of the MENA market, including language localization, cultural sensitivity, and customer support in local languages, are our main focus. We also invest continuously in technology infrastructure and digital solutions to enhance trading platforms, improve user experience, and provide innovative tools and features that meet the evolving needs of MENA clients.
ATFX Connect has been successfully drawing in a high calibre of clients and team members simultaneously, which presents a significant opportunity for us to broaden our presence in the MENA market. Currently, we're dedicating efforts to a number of substantial projects that will become evident in the forthcoming months. These initiatives are expected to underscore our commitment to growth and innovation within the financial services sector.”
Can you share any specific projects or partnerships in that have contributed to the success of ATFX Connect in MENA?
Hormoz Faryar: “Over the past half-year, the most substantial factor contributing to our success has been the strategic addition of pivotal team members. For example, the FX industry veterans Drew Niv joint the group as the Chief Strategy Officer, Siju Daniel as the Chief Commercial Officer, and John Bogue as the Director of Insitutional Operation. Besides, launching partnerships and initiating projects play a valuable role, but the linchpin of maximizing outcomes from such endeavors hinges on having a team that is adept at extracting unrivalled value from them. Our hiring strategy has been laser-focused on assembling a cadre of industry trailblazers. This elite group has been tasked with innovating our product lines both for internal efficiencies and external services, which will have a transformative impact on how our clients, particularly those with ATFX Connect, interact with data as well as how they navigate and manage risk.
Moreover, we never stop forming strategic partnerships with local brokers, financial institutions, and technology providers to expand distribution channels, enhance service offerings, and strengthen market presence in the MENA region.”
About ATFX
ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK's FCA, Cypriot CySEC, UAE's SCA, Australian ASIC, and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.
For further information on ATFX, please visit the ATFX website: https://www.atfx.com.
