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ADSS (company)

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ADSS
Company typePrivate
IndustryFinancial Services
Founded2011
HeadquartersAbu Dhabi, UAE
Key people
Mahmood Ebraheem Al Mahmood, Chairman.
ServicesFinancial investment and trading brokerage
Number of employees
501-1000[1]
Websitewww.adss.com

ADS Securities LLC, dba ADSS,[2] is a private financial services firm headquartered in Abu Dhabi that offers online trading, investment, wealth management and asset management[3] services for institutional, private and retail clients.[4][5][6][7][8][9][10] It provides foreign investment markets analysis on CNBC, Bloomberg, and CNBC Arabiya.[11][12][13][14][15][16]

Company

ADS Securities LLC is licensed by the Central Bank of the United Arab Emirates [17] to act as a financial and monetary intermediary in the conduct of financial and monetary brokerage business for the sale and purchase of currencies and intermediating in money market transactions as permitted in accordance with Central Bank Resolution no. 126/5/1995 (as amended) and to carry out certain categories of financial investment business as permitted under Central Bank Resolution no. 164/8/1994 (as amended).[18][19]

ADSS is the biggest foreign-exchange trader in the Middle East and North Africa (MENA) region[20] and serves central banks, asset managers, brokerage firms, and hedge funds.[5][6] As of March 2012, it managed a daily forex volume of $4–5 billion.[6] In March 2018, this increased to managing daily forex volumes of up to US$20 billion. As of September 2019, daily forex volumes declined back to $4–5 billion and the company has started a complete restructuring after the departure of its then CEO Philippe Ghanem.[21]

The firm was established with $400 million in capital under ADS Holding LLC and began trading in March 2011. At the end of 2016 the company suffered losses in excess of $300 Million USD in a case related to bond financier Lars Windhorst. ADS had given Lars a line of credit of $200 Million and he had struggled for two years to meet payments on a roughly $645 million bill to ADS Securities Ltd.[22] In order to keep the company afloat, the shareholders increased their capital investment with an additional $185 million to increase the total capitalisation to $585 million by end of 2016.[23]

ADS Securities was part of a failed bond issuance deal related to Etihad Airways and EA Partners. EA Partners issued a first set of junk-rated bonds totalling $700 million in September 2015. ADS Securities helped to structure and sell the bonds along with Goldman Sachs. The busted airline deal is now being investigated by detectives.[24]

Operations are headquartered in Abu Dhabi with regional offices in Singapore, Hong Kong regulated by the SFC (AXC847) and in November 2014 ADS Securities London Limited was opened. ADS London is owned by ADS Holding LLC, and works in partnership with ADS Securities LLC. ADS Securities London is authorised and regulated by the FCA (577453).[23][25]

Services

ADSS business areas include trading and brokerage based on its own multi-asset trading technology.[26] The company also has a cross-asset investment service, investment banking division and it offers wealth and asset management services.[4][5][27] The firm is known for its pricing of CFDs including a Dubai Oil CFD which gave Middle Eastern investors access to the local commodity for the first time.[4] On 4 May 2016, the company announced the launch of an Arabic language trading application called OREX mobile.[28]

Regional Offices

ADSS has two main regional offices in London and Hong Kong, established under the entities ADS Securities London Limited (ADSS London) [29] and ADS Securities Hong Kong Limited (ADSS Hong Kong) respectively.[30] ADSS London is authorised and regulated in the UK by the Financial Conduct Authority (FRN 577453) and is an IFPRU 730K firm,[31] with its registered office at 9th Floor, 125 Old Broad Street, London, EC2N 1AR, registration number: 07785265.[32] ADSS Hong Kong is licensed by the Hong Kong Securities and Futures Commission (CE No. AXC847) to act as a financial intermediary in the conduct of brokerage business for the sale and purchase of securities, futures contract, leveraged foreign exchange and advising on corporate finance as permitted in accordance with the Securities and Futures Ordinance of Hong Kong.[33] ADSS Hong Kong holds SFC type, 1, 2, 3, 4 and 6 licenses.[34]

References

  1. ^ "ADS Securities - Crunchbase".
  2. ^ Jeff Patterson (27 June 2018). "ADSS Unveils New Branding Amidst Global Expansion". Finance Magnates. Retrieved 27 July 2018.
  3. ^ Victor Golovtchenko (5 February 2018). "ADS Securities Establishes Asset Management Subsidiary with Abu Dhabi License". Finance Magnates. Retrieved 27 July 2018.
  4. ^ a b c "ADS Securities is launched". E-Forex. Retrieved 14 November 2013.
  5. ^ a b c "Company Overview of ADS Securities L.L.C." Bloomberg Businessweek. Retrieved 14 November 2013.
  6. ^ a b c "ADS Securities to More Than Double Trading Volume in 2013". Bloomberg L.P. Retrieved 14 November 2013.
  7. ^ "ADS Securities brokers forex deal with Air Asia founder". The National. Retrieved 14 November 2013.
  8. ^ "ADS -Securities participates in The 8th Jordan Forex Expo & Awards". ICN Financial Markets. Archived from the original on 2 April 2015. Retrieved 14 November 2013.
  9. ^ "ADSS is Middle East Brokerage of the Year". FX-MM. Retrieved 14 November 2013.
  10. ^ "Emirates International Investment Forum to be held on October 8". Emirates News Agency. Archived from the original on 15 November 2013. Retrieved 14 November 2013.
  11. ^ "المحمود: سوق أبوظبي العالمي سيكمّل عمل الاسواق كونه يغطي الثغرة الزمنية بين 7 و 11 صباحاً" (in Arabic). CNBC. Archived from the original on 2 April 2015. Retrieved 14 November 2013.
  12. ^ "الإمارات تسعى لجذب الاستثمارات الأجنبية" (in Arabic). CNBC. Archived from the original on 2 April 2015. Retrieved 14 November 2013.
  13. ^ "سوق أبوظبي العالمي يسعى ليكون جزءاً من الطريق المالي العالمي السريع" (in Arabic). CNBC. Archived from the original on 2 April 2015. Retrieved 14 November 2013.
  14. ^ "حوار الأسبوع / سوق أبوظبي العالمي" (in Arabic). CNBC. Archived from the original on 9 October 2013. Retrieved 14 November 2013.
  15. ^ "ارتفاع أحجام تداولات العملات الأجنبية المنطلقة من" (in Arabic). Retrieved 14 November 2013.
  16. ^ "Is Another Recession Looming for the U.S.?". Bloomberg Business. 23 February 2015. Retrieved 10 March 2015.
  17. ^ "LIST OF INVESTMENT COMPANIES (ABU DHABI)" (PDF). Central Bank of the UAE. Archived from the original (PDF) on 11 October 2018. Retrieved 11 October 2018.
  18. ^ "List of Financial Investment Companies 30/09/2014" (PDF). Central Bank of the UAE. Archived from the original (PDF) on 11 October 2018. Retrieved 11 October 2018.
  19. ^ "Financial Investment Companies". Central Bank of the UAE. Retrieved 11 October 2018.
  20. ^ "Forex Brokers". Leaprate. Archived from the original on 9 October 2018. Retrieved 9 October 2018.
  21. ^ "ADSS CEO Philippe Ghanem to Leave Firm | Finance Magnates". Finance Magnates | Financial and business news. 2019-06-26. Retrieved 2020-03-10.
  22. ^ "Disputed Debt". WALLSTREET JOURNAL. Retrieved 11 September 2019.
  23. ^ a b "ADS Securities". MEED. Retrieved 14 November 2013.
  24. ^ "Busted Deal". Pensions&Investments. Retrieved 22 July 2019.
  25. ^ "Company Overview of ADS Securities London Limited". Bloomberg Business. Retrieved 10 March 2015.
  26. ^ ""إي دي إس" تُطلق أول منصة تداول متعددة الأصول في الشرق الأوسط" (in Arabic). AlKhaleej. 25 November 2013. Retrieved 10 March 2015.
  27. ^ "ADS Securities Strengthens its Retail Offering – Launches First Call a News and Analysis Portal". Forex Magnates. Retrieved 14 November 2013.
  28. ^ "ADS Securities Arabic Language Trading App launch". AtoZForex. May 4, 2016.
  29. ^ Ruth Lynch (January 16, 2015). "ADS Securities opens new London Office". Devono. Retrieved October 2, 2018.
  30. ^ Steven Hatzakis (December 16, 2013). "ADS Securities Opens Hong Kong Office, MD Desmond Yeo to Oversee Asian Business". Finance Magnates. Retrieved October 2, 2018.
  31. ^ "ADSS Review". Finance Magnates. Retrieved October 9, 2018.
  32. ^ "The Financial Services Register". Financial Conduct Authority. July 24, 2012. Retrieved October 2, 2018.
  33. ^ "ADS Securities Adds Two Additional Regulatory Licenses from Hong Kong SFC". Finance Magnates. June 8, 2016. Retrieved October 2, 2018.
  34. ^ "Public Register of Licensed Persons and Registered Institutions". Securities and Futures Commission. August 9, 2011. Retrieved October 2, 2018.
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