ADS Securities inks deal with Tunes Group
Monte Carlo (Monaco), May 25, 2013
Abu Dhabi-based brokerage and financial services trading company ADS Securities said it signed a MoU with Asian conglomerate Tune Group that will pave the way for a proposed collaboration to develop a number of business opportunities in relation to innovative foreign exchange (FX) brokerage services.
The Tune Group is co-owned by Malaysian entrepreneurs Tony Fernandes and Kamarudin Meranun, the team behind Asia’s leading low-cost carrier AirAsia and the Caterham F1 Team. Fernandes and Meranun are helming AirAsia as its Group CEO and Deputy Group CEO respectively.
ADS Securities and Tune Group will be working together to explore how the global brokerage services of ADS Securities can be used to provide mutually beneficial investment and business opportunities.
The first initiative under this agreement will be the launch of a new Tune Group brand, Tune FX in September.
The objective will be to use Tune FX’s marketing reach to introduce prospective customers to the forex trading services platform powered and licensed by ADS Securities.
Present at the signing ceremony were both Tune Group’s founding members as well as ADS Securities chairman Mahmood Ebraheem Al Mahmood and vice-chairman and managing director, Philippe Ghanem.
Commenting on the tieup, Ghanem said, "Both share a lot of synergies, including a successful entrepreneurial spirit and a drive to continue developing our service offerings to meet customer needs."
"The signing of this agreement is the start of a successful linking of our world class brokerage services with the portfolio of financial services offered under the Tune Group," he noted.
Fernandes said Tune Group continues to demonstrate that its philosophy of offering accessible world class and innovative services which cater to the communities in Asia and beyond is a winning formula.
"Whether it is in hospitality, sport or finance Tune Group offers high quality products and by partnering with ADS Securities we can extend exceptional services and opportunities to the Asia region. We look forward to an innovative and exciting partnership with ADS Securities," he added/
Tune Middle East CEO Ali Rafi, who introduced the two companies, said this is an innovative and exciting partnership which brings together world class brokerage services with unique access to Asian consumers.
"It is a new commercial model which we think will provide benefits for both companies," he added.-TradeArabia News Service