Dubai arcade sees volume growth

Dubai Professional Trading Group, the Middle East's first trading arcade, said yesterday that it plans to double its derivative volumes traded on international exchanges despite global financial market turmoil. The arcade, which opened its doors in October, trades more than one million commodities and and financial contracts per month, making it the most active derivative trading centre in the region. "Crossing the one-million mark is a sign that there is a growing interest in derivatives and in trading them through an arcade," Benedict Floyd, executive director of Dubai PTG told Reuters in an interview. "We're on track to double the number of traders in the arcade and the volume of contracts, mainly fixed income and commodities, they execute," he said. A trading arcade or boutique is a space where independent traders rent a... [read full story]