3 June 2024

Barrenjoey has commenced operations in Abu Dhabi Global Market (ADGM), offering Fixed Income AUD and NZD sales and trading services during European and US time zones.

Head of Fixed Income Duncan Haig said that offering extended coverage hours opened new trading opportunities for clients globally.

“Opening our ADGM office will expand our price making and sales service to Fixed Income clients further into London and US time zones,” said Mr Haig.

“This milestone reinforces our commitment to providing global access to Australian and New Zealand markets, and we look forward to the opportunities this will create for our customers.”

Fixed Income Chief Operating Officer Jacqui Byrnes said that Barrenjoey had selected Abu Dhabi Global Market due to the compatibility of the regulatory environment, suitability of the time zone, and opportunity to co-locate with an increasing number of market participants.

“The UAE is growing rapidly as a financial hub and we are delighted to be established in the Abu Dhabi Global Market,” Ms Byrnes said.

“The regulatory environment is comparable to Australia, which has enabled us to establish operations in a relatively short time frame. The application of English Common Law in the jurisdiction and the proactive approach of ADGM also helped streamline the project.”

Arvind Ramamurthy, Chief of Market Development at ADGM said, “We congratulate Barrenjoey on the opening of their office within ADGM, showcasing their steadfast dedication to Abu Dhabi as their preferred gateway to the region.

“Barrenjoey’s establishment underscores the promising prospects for global financial entities and leading financial market participants to work from ADGM. With ADGM’s legal certainty, robust regulatory framework and an abundance of opportunities within its ecosystem, Abu Dhabi stands resolute as the destination of choice for distinguished companies seeking business growth.”

ADGM Branch Senior Executive Officer Adrian Longland said Barrenjoey’s Fixed Income sales and trading services are already benefiting from joining a community of financial market participants in ADGM.

“Opening our trading operations in ADGM means we’re co-locating in one of the fastest-growing financial districts in the world together with an increasing number of our clients and market participants,” said Mr Longland