US-based fintech Match-Trade Technologies said on Monday it has dissolved its representative offices in India’s Bengaluru and in the UAE, just six months after it opened the latter.
The move is necessary since the company “has no authorized representative personnel in these jurisdictions, and no individuals or entities are permitted to service Match-Trade clients or collect money on its behalf,” according to a company statement.
The company urged clients who were serviced in these offices and were dealing directly from there to contact the company for the customer and technical support.
The fintech opened an office in UAE’s Abu Dhabi in April this year. It said at the time that that the move aimed to address the growing retail forex market in the Middle East and North Africa.
California-headquartered Match-Trade Technologies is a technology provider for forex brokers and liquidity providers that focuses on innovation & business insights. Its offering includes Match-Trade System, Match-Trade Liquidity Cloud, Match-Trader Platform, Match-Trade MT4 Bridge, and Hosting Services, among others. The company has already partnered with major players on financial markets, such as FXCM, Saxo Bank, Hotspot, LMAX exchange, Currenex, ADS Securities, X Open Hub and others.