Global broker Equiti secures category one OTC license from UAE’s SCA

Equiti Group today announced that its subsidiary Equiti Securities Currencies Brokers LLC has been granted OTC Derivatives and Foreign Exchange Spot Markets license by the UAE Securities and Commodities Authority (SCA).

The new license is under Category One for OTC Derivatives and Forex Spot Markets of SCA’s Regulations Manual of the Financial Activities – or ‘licensing rulebook’.

Iskandar Najjar, Co-founder and CEO of Equiti Group, commented:

Iskandar Najjar, Equiti

Iskandar Najjar

Equiti is thrilled to be one of the first global brokers to be awarded this new category license by the UAE’s Securities and Commodities Authority.

The conditions SCA has set include higher paid-up capital requirements for this activity. This has brought the UAE on par with global regulatory standards and positions the SCA as a top tier regulator in the advanced financial markets of the Middle East and UAE.

Equiti UAE

Mohamed Al-Ahmad, CEO of Equiti Securities Currencies Brokers LLC, and Co-founder of Equiti Group, added:

With the addition of our new UAE SCA license, our clients in the region can be confident that they are dealing with one of the most well-regulated and progressive brokers in the Middle East.

Gaurang Desai, Managing Director: Strategy, Equiti Group, said:

The UAE has always been a pioneer in drafting regulation and in leading the way in developing the industry across multiple asset classes; more recently digital assets.

Regulation and compliance have played a significant role of Equiti Group’s global growth strategy. The company highlighted that it will continue to apply for new licenses in various global locations to enter new markets with the right governance in place.

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