Business | Investment
Dubai arcade to train derivatives traders
Dubai Professional Trading Group, the Middle East's first trading arcade, said it plans to identify talented individuals and turn them into tech-savvy derivatives traders.
- Reuters
- Published: 20:30 February 16, 2008
Dubai: Dubai Professional Trading Group, the Middle East's first trading arcade, said on Saturday it plans to identify talented individuals and turn them into tech-savvy derivatives traders.
The group hopes its training programmes for promising apprentices will generate liquidity for regional exchanges, and help them keep pace with the rapidly changing global trading environment.
"There are no practical courses by former market professionals to train people in the region who want to be successful self-employed traders, and we are addressing that gap," Dubai PTG's James Hume said.
A trading arcade or boutique is a space where independent traders rent a desk and a screen to trade a financial market of their choice, often derivatives, at cheaper trading fees.
Analysts say the Middle East is seeing a growing appetite for derivatives, but still lacks traders with the in-demand skills. They say the market needs a new wave of highly numerate, young and analytical "e-traders" who also understand risk management.
"The market is still hungry for talented players who can bring liquidity to these exchanges and put them on the global map," a senior analyst said.
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