Dubai PTG will become the financial free zones first trading arcade, launching in January 2008.
The launch of the arcade will allow traders to benefit from a range of advantages that Dubai offers, said PTG executive director, Benedict Floyd.
Floyd said that the raft of new exchange launches in the area, coupled with the tax-free structure of Dubai, will allow potential traders to make substantial profits. There are some new opportunities to make money here and the time-zone offers traders a friendlier time-zone for trading, he said.
Floyd said that the arcade will launch in December, with 1 January, 2008 being its first trading day. He added that the firm will operate through Fimat allowing traders access to Fimat's distribution network, which includes connectivity to around 50 exchanges worldwide.
As Dubai PTG seeks to attach new traders to relocate to Dubai, Floyd detailed the arcade's capacity and its plans to expand. "Our offices will allow us to initially offer 37 traders a trading desk, but we will be opening an additional office in August 2008, which will allow us 100 additional traders," he said. "We are very confident of filling that space."
The newly created company is a joint initiative between the Dubai Multi Commodity Centre and the citys government.
Dubai PTG is headed by James Hume, who will serve as chairman of the arcade. Hume, who previously served as treasurer of Bank of America, and Floyd, who has joined from Dubai Gold and Commodity Exchange, where he served as general manager.
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