The CME Group, recognized as the most diverse marketplace for financial derivatives globally, has announced its expansion into the Middle East by establishing an office in Dubai, located within the Dubai International Financial Centre.
The company will operate locally under a license from the Dubai Financial Services Authority, catering to the increasing regional demand for futures, options, and listed cash markets across a variety of asset classes. These include interest rates, stock indices, foreign currencies, energy, agricultural products, metals, and cryptocurrencies.
Julie Winkler, the Chief Commercial Officer of CME Group, stated, “Financial markets in the Middle East have witnessed remarkable growth in recent years, driven by heightened activity from institutional and retail sectors. With the rapid rise in participant numbers, it has become essential for us to provide the necessary services that the market deserves. We have focused on education, seminars, and regulatory collaboration in the region for many years and plan to leverage our Dubai office to accelerate our efforts in supporting the vibrant trading ecosystem.”
Serge Marston, Head of Europe, the Middle East, and Africa at CME Group, remarked, “The opening of our new office is a significant step in our global growth strategy, greatly enhancing our presence in the Europe, Middle East, and Africa region to better serve our clients. Our Dubai office will act as CME Group’s hub in the Middle East, serving the UAE and its surrounding markets.”
Saman Jafri, CEO of Business Development at Dubai International Financial Centre Authority, added, “We welcome CME Group to the Dubai International Financial Centre, which contributes to strengthening the relationships we have built over many years. Their presence in the centre is a testament to Dubai’s strategic role as a global financial hub attracting leading international firms, highlighting the growing opportunities in the region. We look forward to supporting CME Group in seizing new growth opportunities provided by the centre and enhancing its connections across the Middle East, Africa, and South Asia.”
Sharif Jagman has been appointed as the director and regional head for the Middle East and Africa, overseeing CME Group’s office in the UAE.
Jagman brings over 17 years of experience in the financial sector, having previously served in strategic roles focused on growth initiatives in the Europe, Middle East, and Africa region for the CME Group. Throughout his career, he has held several leadership positions in prominent financial institutions, including the New York Stock Exchange and Euronext.