ICAP, the world’s leading interdealer broker, announces that it has expanded its Financial
Futures and Options team with the appointment of two new hires and the opening of an office
ICAP’s move into Dubai is a significant step in fulfilling its strategic objective of becoming the
global premier futures execution broker. Based in the Dubai International Financial Centre,
ICAP Securities Ltd (ISL) is regulated by the Dubai Financial Services Authority (DFSA). With
the rapidly expanding economy in the Gulf region, ICAP considers it essential to have a
strong presence in the Middle East, complementing its presence to the East and West of the
The Dubai office will initially have four employees and the team will be led by Sharaz
Hussain,Senior Executive Officer, ISL, Dubai. Sharaz will report to Gary Pettit, Global Head
of Financial Futures and Options at ICAP in London and the board of ISL.
ICAP has also appointed Michael Drennan as Head of North America Future and Options,
based in Chicago. He joins from MF Global and has more than 20 years global markets
experience in Hong Kong, Singapore and London.
Gary Pettit, ICAP’s Global Head of Financial Futures and Options said: “We have been
expanding our global capability since I joined ICAP last December. Having a global futures
and options presence across Europe, Asia and America, it now makes strategic sense to
extend our execution brokerage to the Middle East.”
ICAP’s global Financial Futures and Options business offers brokerage, market commentary
and post trade services with dedicated exchange-traded derivatives brokers in London, New
York, Chicago, Singapore, Sydney, Wellington and now Dubai.