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Leading UK Capital Markets Investment Firm Launches In Dubai

by Lorys Charalambous, Tax-News.com, Cyprus

26 September 2006


Leading global capital markets trading firm, Henyep Investment, has become the first UK-based specialist foreign exchange and derivatives trading firm to be granted a license to operate from the Dubai International Financial Centre (DIFC).

Authorised and regulated by the UK Financial Services Authority, Henyep Investment said that its accreditation from the Dubai Financial Services Authority (DFSA) will allow it to build on its 25 year history in the Middle East, where it has become a market leader.

With its network of both affiliates and clients throughout the region, Henyep plans to use the DIFC as a platform to further expand its core retail and institutional capital markets trading business, which includes currencies, energy, metals, commodities, international equities and more.

Henyep Investment is a pioneer in bringing innovative derivative contracts to the retail market, including crude oil and natural gas Contract for Difference (CFD) futures contracts, which have traditionally been available only to institutional investors. CFD’s are unique as they allow investors to settle in cash, rather than the underlying physical commodity. Henyep Investment also plans to offer foreign exchange and commodity CFD’s, which have become extremely popular with retail and institutional investors.

CFDs allow investors to take long or short positions, or to hedge exposure to the underlying commodity and provide investors with the flexibility to benefit from all market movements. Henyep will distribute its retail CFDs through affiliates and financial intermediaries.

“The foreign exchange market has ballooned to US$2 trillion in daily turnover making it the largest capital market in the world," observed Louis Chiu, Chairman of the Henyep Group.

"This coupled with huge investor interest in energy and precious metals related products such as crude oil and gold lead to a bright future for the sector in the region," Chiu added.

Assem O. Kabesh, Chief Business Development Officer and Board Member at the DIFC, added: “The current infrastructure development boom in the Gulf, along with rising oil prices, is driving demand for price risk management of commodities in the region. Clients will benefit from Henyep Investments’ trading expertise and international market access."

Henyep Investment also views the region as critical to its own global growth prospects.

“The DIFC provides Henyep with a world-class platform from which to operate throughout the Middle East and allows us to build a strong foundation to extend into other group services such as wealth management, corporate advisory and China-related investment opportunities,” concluded Mr Chiu.


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