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ADGM-Based Exchanges Opened Up To Foreign Brokers

by Lorys Charalambous, Lowtax.net, Cyprus
14 November, 2017

Abu Dhabi Global Market (ADGM), the low-tax international financial center, is considering allowing foreign brokers to access its exchanges and clearing houses.

A new remote membership framework has been proposed in a recently released consultation paper, which will allow international investors to trade and settle their trades using brokers located outside ADGM.

ADGM's stated aim in opening its exchanges to outside brokers is to expand international investor participation in its markets by providing greater convenience and choice, as well as to facilitate cross-border flows, and increase the liquidity of its capital markets.

ADGM has invited interested parties to give their feedback on the proposed remote membership framework, contained in Consultation Paper No. 5 of 2017, by January 2, 2018.

ADGM is an international financial center established in 2013. It offers a range of attractive benefits to firms, including exemption from taxes guaranteed for 50 years, and relaxed rules on the repatriation of profits. ADGM permits 100 percent foreign ownership.

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