Abu Dhabi sets up financial free zone

Commenting on recent news from the Government of Abu Dhabi who have announced the setting up of a financial free zone on Maryha Island, Jeff Grossman, Managing Director of Squared Financial services, a brokerage firm that is increasingly active in the region, says, “We see great potential in this launch.

First Published by e-Forex News: October, 2013

Jeff Grossman

Jeff Grossman

Commenting on recent news from the Government of Abu Dhabi who have announced the setting up of a financial free zone on Maryha Island, Jeff Grossman, Managing Director of Squared Financial services, a brokerage firm that is increasingly active in the region, says, “We see great potential in this launch. We believe our clients will welcome and support the move especially those with operations centered on Asia and Eastern Europe. We expect the development will greatly enhance general service levels and liquidity during this “grey phase” between trading sessions.”

Abu Dhabi Global Market (ADGM) is the latest free zone which will function as the financial services conduit, between Europe and Asia; bridging the closing and opening of those two markets by augmenting liquidity and general risk management facilities. ADGM is set to become a market maker and price setter in the region, and will also specialise in the financial handling of physical commodities, which is heavily reliant on FX.