Tradition Financial Services (TFS) has become the first interdealer broker to open a desk in Dubai, where it will initially cover precious metals, but also plans to broker oil, freight and financial instruments.
Trevor Conway heads the office as senior executive officer, with 12 years of global broking experience at TFS, in Hong Kong, London and Sydney. Julian Hofer and Arron Wright - both senior brokers - and Jono Bull also join the desk there.
Conway cited several reasons for the move,
- Regulators to scrutinise CCP default auctions
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- Sefs, Libor fallbacks and risk governance in Asia
- VAR surges, revenues tank at French banks hurt by volatility
- A rush on Libor fallbacks to head off holdouts