Dubai’s growing commodities hub is now enticing London tradersBloombergLondon’s commodities merchants are following some of their Swiss peers to Dubai, as the emirate moves from being an outpost focused on crude to a major energy trading hub. While London has a much bigger commodities presence, more energy traders are moving or expanding from the British capital to Dubai. “The tax incentives are clear, but for some there is a feeling that Dubai is well-positioned to become a major commodities trading hub,” Funnell said. Still, as a commodities trading center it remains much smaller than places like London, Singapore, Geneva and Stamford. Some of the company’s European power team have already made the move — including power desk head Brendan Mycock — and gas traders are expected to follow.

Source: Taipei Times May 07, 2023 17:31 UTC