ADS Securities, a leading Abu Dhabi-based forex and commodities trading platform, said it has seen a dramatic increase in the volume of GCC currencies traded within the region.

The main currencies, including the Saudi Riyal, Qatari Riyal, Bahrain Dinar and UAE Dirham, are all pegged to the dollar, but global market volatility means that it is important for companies to trade and manage their currency position within the trading range of these pegged currencies, said a top official.

“As a GCC-based platform, we are now offering tight spreads on all major GCC/dollar currency pairs and although they are pegged, the range means that smart investors and firms are actively trading their local currency to ensure they maintain or gain investment value as the rates varies from country to country,” explained chief dealer Peter Laursen.

"Broadly, we are noticing the development of new trends as investors both locally and around the world look to the ADSSecurities platform as a means of extracting the best currency value possible in a tricky market," he stated.

"Whether these trends are driven by volatility in global markets and unresolved problems facing the eurozone or the need to adopt smart opportunistic currency positions locally, we’ll continue to offer superb access to liquidity in the region and some of the tightest spreads available,” Laursen said.

ADS Securities offers a comprehensive set of on and off-line services and tools designed to help institutional, professional and high-net-worth participants trade with high efficiency, speed and simplicity.-TradeArabia News Service