Rostro
Group, the owner of retail broker Scope, has secured a Category 5 license from
the United Arab Emirates (UAE) Securities and Commodities Authority (SCA),
opening the door for the Dubai-based holding company to expand its brokerage
and trading services across the country and wider Gulf region.
Rostro’s UAE License Adds
Local Market Access
The group,
founded in 2021 and active across multiple brokerage and fintech brands, said in
the announcement the license is a cornerstone of its long-term presence in the
UAE.
With the
SCA approval, Rostro can offer more than 60 regional contracts for difference
on equities and proprietary CFD indices that track the performance of the Dubai
and Abu Dhabi stock markets.
“We at
Rostro Group see the UAE as one of the most forward-thinking financial centers,
one that will soon rival leading centers like London, Singapore or New York,” Michael
Ayres, the CEO of Rostro Group, commented. “Securing this license deepens our
alignment with the country’s vision to build a tech-first, institutionally
robust financial ecosystem and propels our contribution to its next phase of
growth.”
The group
has already set up local banking relationships and is positioning its Scope Prime unit to
deliver multi-asset prime brokerage services to financial institutions across
the Gulf Cooperation Council.
On the
retail side, Scope
Markets plans to provide accounts in several base currencies, including UAE
dirham and US dollar, reflecting the mix of local and international clients it
targets from the UAE hub.
Scope Brands Anchor
Institutional And Retail Push
Rostro’s
structure spans multiple business lines aimed at different client segments,
with Scope Prime focusing on institutional customers and Scope Markets serving
individuals seeking access to global trading and investing.
Earlier
this year, the group added a futures and options division, appointing
Saul Knapp as Managing Director of the new business and preparing to offer
direct market access through arrangements with order management system
providers TT and CQG.
The company
has also broadened its digital asset offering for institutional clients under
Scope Prime, launching prime services for crypto CFDs with margin requirements
ranging from 2 percent to 20 percent depending on activity and risk profile.
Management Bench Deepens
Ahead Of Growth Plans
The UAE
license caps a period of management changes at Rostro as it builds governance
and operational depth across trading, growth and people functions. In October,
the group named
Kate Mason-Keaney as its first Chief People and Organization Officer and
promoted Scope Markets CEO Pavel Spirin to Group Chief Growth Officer, creating
a dedicated function to oversee expansion across its portfolio.
In trading,
Rostro recently appointed Oliver
Ryan as Head of Trading Operations, adding experience from roles at
Exinity, Advanced Markets Group, CMC Markets and Equiti Capital. Earlier, the
group also brought in Demetra Charalambous as Group Finance Director and Sammy
Christou as Managing Director of systematic market making, as it strengthened
its trading and risk operations.
This article was written by Damian Chmiel at www.financemagnates.com.
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