Dubai Emerges as Leading Commodities Trading Hub, Attracting London Traders

The Emirate of Dubai in the United Arab Emirates (UAE) has long made efforts to attract commodity companies through investment in banking infrastructure and development of futures trading. began to move to

While London has a much larger product presence, more and more companies are moving their operations to Dubai. With traders themselves getting unprecedented bonuses, lower taxes, more peers in the same industry, and other lifestyle perks that are becoming more important as top talent is attracted are also attractive.

A person familiar with the matter, speaking on condition of anonymity, said:Hartley Partnersorfreepoint commoditieshas moved energy traders and senior executives to Dubai in the past year. The increasingly attractive emirate of Dubai appears to be dethroning London as a historically important trading center.

“It’s not just independent commodities, but big-name hedge funds,” said Jonathan Funnell, partner at management recruitment firm Sidley Marion.recentlyOpened an office in Dubai. “Although the tax incentives are clear, some feel that Dubai is poised to become a major commodity trading hub.”

Original title:Dubai’s Growing Commodities Hub Is Now Enticing London Traders(excerpt)

(This article partially uses automatic translation)