Direct TT, the financial consultancy firm and part of the DTT Group, has acquired the UAE Securities and Commodities Authority (SCA) licence for financial consultancy and financial analysis. The DTT Group has also announced plans to invest $10million across the next two years into its regional operations and fintech research and development.
Following the acquisition of the licence from the SCA, Direct TT aims to offer clients regulated financial research and analysis. The firm also plans to offer scientific data, to help forecast price trajectories, future trends and more for the forex, stocks, CFDs, precious metals, and energy markets.
The licence also permits Direct TT to introduce its customers to financial services from SCA-licenced entities. The financial consultancy firm is now able to promote, market and advertise its financial products.
Acquiring the licence enables the company to make a number of regulated moves to support its goals of becoming a regional and global leader in the financial markets sector.
Direct TT also offers the ‘Direct TT IB‘ program which is designed for introducing brokers (IB), commodity trading advisors (CTAs), commodity pool operators (CPOs), financial brokers and all referring agents.
The program offers them the opportunity to expand the number of products they cover to their existing and potential client base by providing them access to the world’s foreign exchanges, commodities, and energy markets.
‘SCA licence is a major milestone’
Dr Saif Al-Islam Bin Saud Bin Abdul-Aziz Al-Saud, chairman of the board for DTT Group, commented on the news. He said: “The region has firmly established itself as a global financial hub, with its strong and diverse economy, advanced financial markets, and pro-business policies, thereby attracting investments from around the world.
“In addition, the fintech and innovation sectors are experiencing a rapid boom as a result of the high demand from businesses upgrading their technology infrastructure to meet global standards.”
Walid Ead, CEO and managing partner at DTT Group, explained the significance of the licence. Ead commented: “Acquiring the SCA licence is a major milestone for Direct TT, as it reaffirms our commitment to our clients in the UAE. Our mission has been to consistently deliver regulated, accurate, and reliable financial data to ensure that traders have access to the best financial products and information, as well as the security to invest with confidence.
“We consider the GCC to be a key region for us, due to its position as a global financial hub. By making significant investments in the region, will look forward to better serving our clients and meeting the growing demand for quality services and cutting-edge fintech solutions. It further underscores our commitment to contribute to the empowerment of the financial sector across the region.”