Abu Dhabi: Tradition, the interdealer broking arm of Compagnie Financi¨re Tradition (CFT), has announced the opening of its first office in Abu Dhabi, establishing itself as one of the pioneering interdealer brokers within the Abu Dhabi Global Market (ADGM).

According to Emirates News Agency, the company has secured Financial Services Permission (FSP) from the Financial Services Authority of ADGM, paving the way for its new office in Abu Dhabi's International Financial Centre (IFC). This move is set to enhance Tradition's ability to support clients across major macro markets.

Located in ADGM, Tradition benefits from a robust regulatory framework that merges effective governance with commercial pragmatism, alongside the benefits of its international financial free zone status.

Mike Anderson, CEO Tradition, EMEA, expressed that establishing a presence in Abu Dhabi marks a crucial step for Tradition as part of its EMEA strategy. He emphasized that ADGM offers a conducive environment for financial institutions, aligning with Tradition's ambition to be a leader in global financial markets.

Arvind Ramamurthy, Chief Market Development Officer, ADGM, welcomed Tradition to ADGM's ecosystem, highlighting the significance of Tradition's expansion as a testament to global interest in Abu Dhabi's IFC. He emphasized the value Tradition is expected to bring and the support ADGM will offer through its regulatory framework and ecosystem.