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Tuesday, July 23, 2024
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DIFC-based STP gets DFSA brokerage license

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STP is a leading prime brokerage firm licensed by the Dubai Financial Services Authority (DFSA) and has been approved by the DFSA to provide a full suite of prime brokerage services to its clients. The firm caters to the growing number of family offices, high net worth individuals (HNWI) and institutional investors in the region.

Anthony Hallside, Chief Executive of STP, said: “This approval is a testament to our commitment to providing our clients with the highest quality service at the most competitive prices. We are committed to performance, growth and leadership for our clients. Our top priority brokerage Solutions are rooted in our innovative approach, partnerships and cutting-edge technology, designed to meet their unique needs.”

STP’s launch of prime brokerage services comes at a time of significant growth in the UAE’s financial markets.

asset value

According to the Dubai International Financial Center (DIFC), the total value of assets managed by DIFC will grow by 20% in 2022. In a 2022 report by Henley & Partners, the UAE is expected to lead the world in attracting private wealth. Its economy in the next five years will welcome about 4,000 millionaires.

With over 55,000 high net worth individuals in Dubai alone, STP aims to provide industry-leading prime brokerage services to wealthy individuals and mid-sized institutional investors.

“The growth of the UAE financial market is creating a huge demand for prime brokerage services. We are well positioned to meet this demand with our comprehensive suite of services and experienced team of professionals. The industry faces many challenges including digital transformation and integrated demand, rising operating costs, security risks from cyber-attacks, and changing market trends.STP has developed a custom prime broker solution that provides best-in-class functionality to navigate and manage proprietary and final client’s asset,” Hallside added.

Advanced technology

Key to STP’s strategy is the integration of advanced technology in its service delivery. “We are leveraging technology to give our clients an edge in this dynamic financial environment. Our advanced trading platforms, algorithmic tools and real-time market data not only provide clients with actionable insights to make informed investment decisions, but Ensuring they stay ahead of the game adds Waleed Gheith, Director of Operations at STP.

STP provides execution, custody and settlement services through globally recognized Tier 1 providers, foreign exchange and lending across all major asset classes, while significantly reducing costs for clients. These services demonstrate STP’s commitment to delivering unparalleled value and service excellence.

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