DIFC-based STP receives DFSA brokerage licence

DIFC-based STP receives DFSA brokerage licence

STP, a leading prime brokerage firm licensed by the Dubai Financial Services Authority (DFSA), has received the DFSA’s approval to offer a full suite of prime brokerage services to its clients. The firm caters to the needs of a rising number of family offices, high net-worth individuals (HNWIs) and institutional investors in the region.

Anthony Hallside, CEO of STP, said: "This approval is a testament to our commitment to providing our clients with the highest quality services and the most competitive pricing. We are dedicated to enabling performance, growth, and leadership for our clients. Our prime brokerage solutions, rooted in our innovative approach, collaborative partnerships, and cutting-edge technology, are designed to meet their unique needs."

STP’s launch of prime brokerage services comes at a time of significant growth in the financial markets in the UAE.

Value of assets

According to the Dubai International Financial Centre (DIFC), the total value of assets under management in the DIFC increased by 20% in 2022. A Henley & Partners report in 2022 stated that the UAE is projected to lead the world in attracting private wealth to its economy over the next five years, welcoming an estimated 4,000 millionaires.

With Dubai alone being home to over 55,000 high-net-worth individuals,