ADSS (company)

ADS Securities
Company typePrivate
IndustryFinancial services
Founded2011 (2011)
Headquarters
Abu Dhabi
,
UAE
Area served
MENA region
Key people
Ahmad Khalifa Almehairi (CEO)[1]
ServicesFinancial investment and trading brokerage
Number of employees
180[2] (2014[2])
Websitewww.adss.com

ADSS (ADS Securities until 2018) is an Abu Dhabi-based financial services company providing online trading, investment, wealth, and asset management solutions to institutional, private, and retail clients globally. Established in 2011, ADSS expanded its brokerage activities and operated through subsidiaries and representative offices in financial centres including Hong Kong, Singapore, and London.

The company has drawn attention for its role in a controversial fundraising effort linked to Etihad Airways and for being mentioned as an intermediary in reporting related to the Dubai Papers investigation.

History

ADS Securities was founded in March 2011 with initial private capital. Philippe Ghanem was appointed as CEO, and Mahmood Ebraheem Al Mahmood was the executive chairman.[2][3][4]

In April 2011, shortly after its establishment, ADS Securities received recognition as the "Fastest Newcomer" at the Middle East Forex Awards. By May 2011, the firm reported daily trading volumes of approximately $2 billion and announced that prime brokers including Goldman Sachs and BNP Paribas had joined its platform.[5][6] In August 2011, the company expanded by registering ADS Securities Hong Kong Limited.[7]

By 2014, ADS Securities had over 10,000 clients.[2] On 4 May 2016, it introduced OREX mobile, an Arabic-language trading application.[8] By 2017, the firm reported a global presence with offices in London, Singapore, and Hong Kong, and launched Bitcoin CFDs for clients in the MENA region.[3][9]

In 2017, the group launched ADS Investment Solutions, focusing on wealth and asset management.[10]

In early 2018, ADS Securities incorporated Autochartist into its trading platform and expanded its cryptocurrency offering to include Bitcoin Cash, Litecoin, and Ripple.[11][12] In June 2018, the company rebranded itself from ADS Securities to ADSS.[13]

In June 2019, ADS Investment Solutions launched a Saudi Arabian smart beta fund.[14] A month later, Philippe Ghanem resigned as CEO, with Mahmood Ebraheem Al Mahmood temporarily stepping into the CEO role.[15] The company experienced further senior executive turnover in subsequent years.[16][17]

In January 2024, ADSS introduced a cloud-based trading platform developed in collaboration with Adaptive Financial Consulting, positioning it as an alternative to MetaTrader 4.[18][19]

On 6 June 2024, ADSS became an official trading member of the Abu Dhabi Securities Exchange (ADX).[20]

In October 2024, Ahmad Khalifa Almehairi was appointed as CEO of ADSS, succeeding Mahmood Ebraheem Al Mahmood.[1]

ADSS UK

In 2012, ADSS expanded into the UK market with the establishment of ADSS UK, securing authorisation from the Financial Conduct Authority (FCA).[21][22][23] In 2016, the subsidiary reported an operating loss of £3.1 million, prompting a restructuring that included team downsizing, expense reductions, and a shift toward retail business. Despite these efforts, the UK division experienced declining revenues.[24] 2019 saw a 44% drop in activity, partially offset by a £3.26 million capital injection from the parent company.[25] In 2020, revenues fell from £4.99 million to £3.09 million.[26] A notable but brief recovery in 2021, marked by a 362% profit increase, coincided with a continued 34% fall in overall revenues and client funds.[21][27] Between 2021 and 2023, several top executives, including CEO Paul Webb, departed from the UK subsidiary.[21]

In July 2023, ADSS withdrew from the UK market and applied to cancel its FCA authorisation.[28]

Operations

ADS Securities LLC (ADSS) is a limited liability company incorporated under the laws of the United Arab Emirates, registered with Abu Dhabi's Department of Economic Development. It is authorised and regulated by the UAE Capital Market Authority (CMA) as a broker for certain over-the-counter (OTC) derivatives and foreign exchange products.[7][29][30][31]

ADSS offers brokerage and trading services powered by proprietary multi-asset trading technology.[32] The firm's business areas also include cross-asset investment services and wealth and asset management services.[33][34][35][5] ADSS was among the first firms to offer a Dubai Oil CFD, providing regional investors access to local commodity markets.[33]

According to the European Business Review, ADSS provides customer support services during weekdays only (24/5).[36]

Controversy

In 2022, the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) found that ADSS's wealth-management subsidiary, ADS Investment Solutions Limited, had breached the Common Reporting Standard (CRS) Regulations by failing to properly collect, verify and report required CRS information. The FSRA imposed a total financial penalty and administrative fees of AED 30,000 and ordered remedial actions.[37][38]

Etihad fundraising issue

Between 2014 and 2016, ADS Securities became involved in fundraising linked to Etihad Airways Partners that later attracted scrutiny from investors and creditors. In September 2015, Etihad Airways Partners priced a $500 million bond at 6.875%.[39] A subsequent filing and ratings coverage described the notes as a $700 million 6.875% issue due in 2020.[40] In May 2016, Etihad Airways Partners raised an additional $500 million in a second bond issue.[41] The funds were used to support airlines in which Etihad had equity stakes, including Air Berlin, Alitalia, Jet Airways, Air Serbia, and Air Seychelles.[39][42] In 2016, ADS Securities failed to complete a transaction involving $85 million worth of RNTS Media shares, shifting the financial burden onto Goldman Sachs. Private investigations commissioned by creditors subsequently identified Lars Windhorst as the principal architect behind these controversial deals.[43][44][42][45]

Dubai Papers

According to reporting by Africa Intelligence and other outlets on the Dubai Papers, ADS Securities was mentioned among intermediaries in an alleged money laundering and tax avoidance scheme associated with Helin International, involving transfers by ultra-high-net-worth individuals and public figures, including European aristocrats, Russian oligarchs, and former president of Angola José Eduardo dos Santos, among more than 200 Helin International clients.[46][47][48][49]

References

  1. ^ a b "Ahmed Khalifa Almehairi". ADSS. Retrieved 2026-01-28.
  2. ^ a b c d "Abu Dhabi's ADS Securities Eyes Investment Banking, Asset Management". Gulf Business. 2014-10-07. Retrieved 2025-03-27.
  3. ^ a b Golovtchenko, Victor (2017-10-05). "Exclusive: Andreas Lazarou to Leave ADS Securities". Finance Magnates. Retrieved 2025-03-30.
  4. ^ "ADS Securities begins operations". Emirates247. 2011-03-07. Retrieved 2025-03-27.
  5. ^ a b "ADS Securities Named 'Fastest Newcomer' At Middle East Forex Awards 2011". Mondo Visione. 2011-04-21. Retrieved 2025-03-27.
  6. ^ "Goldman Sachs and BNP Paribas Join ADS Securities Platform as Prime Brokers". WAM (Emirates News Agency). 2011-05-31. Retrieved 2025-03-27.
  7. ^ a b Hatzakis, Steven (2013-12-16). "ADS Securities Opens Hong Kong Office, MD Desmond Yeo to Oversee Asian Business". Finance Magnates. Retrieved 2025-03-30.
  8. ^ "ADS Securities Arabic Language Trading App launch". AtoZForex. 2016-05-04. Retrieved 2026-01-28.
  9. ^ Patterson, Jeff (2017-09-04). "Exclusive: ADS Securities Launches Bitcoin CFD Trading to MENA Clients". Finance Magnates. Retrieved 2025-03-30.
  10. ^ Golovtchenko, Victor (2018-02-05). "ADS Securities Establishes Asset Management Subsidiary with Abu Dhabi License". Finance Magnates. Retrieved 2025-03-30.
  11. ^ "ADS Securities Integrates Autochartist Tools". Finance Magnates. 2018-02-15. Retrieved 2025-03-30.
  12. ^ Abdel-Qader, Aziz (2018-04-04). "ADS Securities Expands Cryptocurrency Offering with Three New Altcoins". Finance Magnates. Retrieved 2025-03-30.
  13. ^ Patterson, Jeff (2018-06-27). "ADSS Unveils New Branding Amidst Global Expansion". Finance Magnates. Retrieved 2025-03-30.
  14. ^ "ADS Investment Solutions launches Saudi Arabian smart beta fund". Zawya. 2019-06-19. Retrieved 2025-03-27.
  15. ^ "ADSS CEO Philippe Ghanem Leaves Firm". Finance Magnates. Retrieved 2025-04-02.
  16. ^ Segal, Gerald (2022-02-23). "Exclusive: ADSS exec departures continue – Jo Page (CFO) and Kevin Ball (HR head)". FX News Group. Retrieved 2025-03-29.
  17. ^ Segal, Gerald (2021-08-04). "Exclusive: More senior management turnover at ADSS". FX News Group. Retrieved 2025-03-29.
  18. ^ Shome, Arnab (2024-01-12). "Exclusive: ADSS Taps Adaptive to Launch the "First Ever Cloud-Based Trading Platform"". Finance Magnates. Retrieved 2025-03-29.
  19. ^ "Adaptive partners with ADSS to deliver first exclusively cloud-based retail broking platform". Adaptive Financial Consulting. 2024-01-15. Retrieved 2026-01-28.
  20. ^ Sikder, Tareq (2024-06-06). "ADSS Opens Up Trading for Abu Dhabi Exchange Listed Companies". Finance Magnates. Retrieved 2025-03-29.
  21. ^ a b c Segal, Gerald (2023-07-14). "Exclusive: ADSS withdrawing from UK market". FX News Group. Retrieved 2025-03-29.
  22. ^ "The Financial Services Register". Financial Conduct Authority. July 24, 2012. Retrieved October 2, 2018.
  23. ^ Ruth Lynch (January 16, 2015). "ADS Securities opens new London Office". Devono. Archived from the original on September 26, 2020. Retrieved October 2, 2018.
  24. ^ Golovtchenko, Victor (2018-04-30). "ADS Securities London Pivots to Retail, Posts a Profit for 2017". Finance Magnates. Retrieved 2025-03-29.
  25. ^ Segal, Gerald (2020-08-24). "Exclusive: ADSS UK sees 44% drop in Revenue in 2019". FX News Group. Retrieved 2025-03-29.
  26. ^ Shome, Arnab (2021-10-26). "ADSS UK Posts Revenue Decline for FY2020". Finance Magnates. Retrieved 2025-03-29.
  27. ^ Oladipupo, Solomon (2023-07-14). "ADSS Quits UK Market to 'Refocus' on Other Entities". Finance Magnates. Retrieved 2025-03-29.
  28. ^ "Exclusive: ADSS withdrawing from UK market". FX News Group. Retrieved 2 April 2025.
  29. ^ Hatzakis, Steven (2016-06-08). "ADS Securities Adds Two Additional Regulatory Licenses from Hong Kong SFC". Finance Magnates. Retrieved 2025-03-30.
  30. ^ "Public Register of Licensed Persons and Registered Institutions". Securities and Futures Commission. August 9, 2011. Retrieved October 2, 2018.
  31. ^ Steven Hatzakis (December 16, 2013). "ADS Securities Opens Hong Kong Office, MD Desmond Yeo to Oversee Asian Business". Finance Magnates. Retrieved October 2, 2018.
  32. ^ ""إي دي إس" تُطلق أول منصة تداول متعددة الأصول في الشرق الأوسط" (in Arabic). AlKhaleej. 25 November 2013. Retrieved 10 March 2015.
  33. ^ a b "ADS Securities is launched". E-Forex. Retrieved 14 November 2013.
  34. ^ "Company Overview of ADS Securities L.L.C." Bloomberg Businessweek. Archived from the original on 2011-07-14. Retrieved 14 November 2013.
  35. ^ "ADS Securities Strengthens its Retail Offering – Launches First Call a News and Analysis Portal". Forex Magnates. Retrieved 14 November 2013.
  36. ^ "Our Take on GCC Broker ADSS". European Business Review. 2024-01-21. Retrieved 2025-03-27.
  37. ^ "ADGM imposes financial penalty for breaching Common Reporting Standard Regulations requirements: ADS Investment Solutions Limited (CRS Penalty Notice)". Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. 2022-07-19. Retrieved 2026-01-30.
  38. ^ "UAE wealth firms fined for regulatory breaches". International Adviser. 2022-09-01. Retrieved 2026-01-30.
  39. ^ a b "Etihad Airways Partners raises $500 mln in debut bond". Reuters. 2015-09-16. Retrieved 2026-01-28.
  40. ^ "Fitch Downgrades EA Partners Senior Secured Ratings to 'CCC'". Fitch Ratings. 2017-05-03. Retrieved 2026-01-28.
  41. ^ "Etihad Airways Partners raises $500 mln in second bond". Al Arabiya English. 2016-05-25. Retrieved 2026-01-28.
  42. ^ a b "A busted Goldman airline deal is investigated by private detectives". Pensions & Investments. 2019-07-22. Retrieved 2025-03-30.
  43. ^ Smith, Robert; O'murchu, Cynthia (2017-09-07). "Little-known broker emerges as having outsized role in Etihad bonds". Financial Times. Retrieved 2025-03-30.
  44. ^ "Top Goldman Traders Caught Up in Tango With Flamboyant Financier". Bloomberg. 2018-08-13. Retrieved 2025-03-30.
  45. ^ Bradley, Hope (2019-09-11). "Disputed Debt Hangs Over European Maestro of Private Bonds". The Wall Street Journal. Retrieved 2025-03-30.
  46. ^ "Plot thickens in Helin International money laundering investigation". Africa Intelligence. 2023-02-20. Retrieved 2025-03-28.
  47. ^ Tilouine, Joan (2023-05-08). "The African secrets of wealth management firm Helin International". Africa Intelligence. Retrieved 2025-03-28.
  48. ^ Michel-Aguirre, Caroline (2024-06-03). "Dubaï Papers : les millions évaporés d'Helin ont-ils atterri sur un compte en Belgique ?". Le Nouvel Obs. Retrieved 2025-03-28.
  49. ^ Loore, Frederick (2024-06-19). "Dubai Papers: 28 millions d'euros suspects ont atterri chez ING Belgique... à Dubai". DH (Les Dernières Nouvelles). Retrieved 2025-03-28.
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