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GMG gets approval to operate in DIFC

18 January 2010
GMG Limited, a unit of a Switzerland-based G2 Group specialising in investments and financial services across asset classes, has been granted a licence by the Dubai Financial Services Authority (DFSA) to operate as an authorised firm from the Dubai International Financial Centre (DIFC).

G2 manages a series of highly focused fund of hedge fund investments in Switzerland, Russia and Latin America. The Swiss firm has a geographical spread portfolio of real estates investments, including hotels, agriculture and commercial and leisure sectors. GMG as the brokerage arm of G2 Group will provide both traditional voice and electronic execution services for institutional clients from its base at the DIFC.

With offices in London and Paris and a FSA licence, GMG is specialised in inter-dealing broker services in the wholesale financial markets facilitating the flow of liquidity in both OTC trades and transactions between commercial/investment banks and other financial and non-financial institutions around the world.

GMG will render its brokerage services to institutional clients such as banks, funds, sovereign funds, family offices, corporates and supra-nationals, and will not engage in retail business. As a broker, GMG will only be facilitating the transactions and will not be accepting or remitting funds for and on behalf of its clients.

The activity from the Dubai office will be specialised on fixed income execution and equity derivatives. Supported by its headquarter in London, GMG will also provide access to its international client network to the local fixed income market.

By Staff Writer

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© Emirates Business 24/7 2010
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