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ADS Securities, an Abu Dhabi licensed institutional and retail financial solutions provider, announced it is launching its Prime of Prime (PoP) forex solution across Asia in a bid to fill the credit gap in the forex industry.
The PoP is specifically geared towards financial institutions in Asia with a focus on locally favored currencies, including non-deliverable forwards (NDFs) and expanded liquidity and credit lines.
The new solution is available from September 2. It offers access to more than 45 different currencies and precious metals and liquidity from over 80 different providers, via a disclosed tailored liquidity pool. Additionally, they will provide a second offering that allows clients to leverage their existing relationships with liquidity providers (akin to traditional forex prime brokerage).
Clients will use the ADS PoP services with no mark up on the direct liquidity from the chosen dealers, 24 hour global coverage and local support in Asia.
“In just two months our innovative Prime of Prime service has generated enormous interest,” said Marco Baggioli, Executive Managing Director & Global Head of Brokerage at ADS Securities. “Much like Europe, there is a clear need in Asia for credit intermediation services that are a true reflection of a direct prime brokerage relationship, with direct access to liquidity backed by strong capital and credit relationships.”
In Biaggioli’s words, the PoP solution is designed to meet the growing demand for improved access and liquidity to NDF pricing across Asia.
The PoP product was launched in May this year.
ADS Securities is based in Abu Dhabi and licensed by the Central Bank of the United Arab Emirates (UAE). It offers retail and institutional financial services, including trading in forex, contracts for difference (CFDs) and precious metals. Other services of the company include global market, investment banking and wealth and asset management. The company is based in Abu Dhabi, and has offices in Hong Kong, Singapore and London.