DIFC Solidifies Position as UAE's Leading Hub for Global Brokerage Firms

Dubai International Financial Centre (DIFC) has reinforced its standing as the premier destination for international brokerage firms, with 70 established firms now operating in the Centre.

The Dubai Financial Services Authority (DFSA), the regulatory body overseeing financial activities within DIFC, authorized 12 new brokerage firms in 2023. This expansion underscores the region’s growing demand for financial services, particularly among firms from the Middle East, Europe, the UK, and the US.

Among these are some of the world’s top brokerage firms, with five from DIFC ranking in the top 10 interdealer brokers by volume. Notable names include BGC Brokers L.P., GFI Securities Limited, Interactive Brokers, TP ICAP Limited, Tradition Limited, and Vantage Capital Markets. These firms offer a comprehensive range of trade execution and broker-dealer services, further enhancing Dubai’s reputation as a global financial hub.

Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, highlighted the Centre’s ongoing growth, noting,

"The consistent inflow of top firms underscores Dubai’s attractiveness as a global financial services hub and DIFC’s world-class value proposition for industry players."

Since its inception 20 years ago, DIFC has grown into the region’s leading financial ecosystem. As of the first half of 2024, DIFC boasts a record 6,153 active companies, including 820 regulated firms licensed by the DFSA. This makes DIFC the largest financial cluster in the MEASA region, solidifying its role as a key player in global financial markets.

News Source: Emirates News Agency