STP, a leading prime brokerage firm licensed by the Dubai Financial Services Authority (DFSA), has received the DFSA’s approval to offer a full suite of prime brokerage services to its clients. The firm caters to the needs of a rising number of family offices, high net-worth individuals (HNWIs) and institutional investors in the region.
Anthony Hallside, CEO of STP, said: "This approval is a testament to our commitment to providing our clients with the highest quality services and the most competitive pricing. We are dedicated to enabling performance, growth, and leadership for our clients. Our prime brokerage solutions, rooted in our innovative approach, collaborative partnerships, and cutting-edge technology, are designed to meet their unique needs."
STP’s launch of prime brokerage services comes at a time of significant growth in the financial markets in the UAE.
Value of assets
According to the Dubai International Financial Centre (DIFC), the total value of assets under management in the DIFC increased by 20% in 2022. A Henley & Partners report in 2022 stated that the UAE is projected to lead the world in attracting private wealth to its economy over the next five years, welcoming an estimated 4,000 millionaires.
With Dubai alone being home to over 55,000 high-net-worth individuals, STP aims to empower wealthy individuals and mid-sized institutional investors with industry-leading prime brokerage services.
“The growth of the financial markets in the UAE is creating a significant demand for prime brokerage services. We are well positioned to meet this demand with our comprehensive suite of services and our experienced team of professionals. The industry is facing a number of challenges, including the need for digital transformation and integration, escalating operating costs, security risks from cyber-attacks, and evolving market trends. STP has developed a custom-made prime broker solution that offers best-in-class functionality to navigate and manage proprietary and end clients' assets,” Hallside added.
Advanced technology
Key to STP's strategy is the integration of advanced technology in its service delivery. "We are leveraging technology to provide our clients with an edge in this dynamic financial landscape. Our advanced trading platforms, algorithmic tools, and real-time market data not only equip clients with actionable insights for informed investment decisions, but also ensure they stay ahead of the curve," added Waleed Gheith, Director of Operations at STP.
STP offers execution, custody and settlement services through globally recognised tier 1 providers, foreign exchange, and lending across all major asset classes, at a significantly reduced cost to clients. These services underscore STP's commitment to delivering unparalleled value and exceptional service.
-- TradeArabia News Service
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