ADSS (company)

ADSS is an Abu Dhabi-based financial services company providing online trading, investment, wealth, and asset management solutions to institutional, private, and retail clients globally. Established in 2011, ADSS expanded its brokerage activities and operated through subsidiaries and representative offices in financial centres including Hong Kong, Singapore, and London.
The company has drawn attention for its role in a controversial fundraising effort linked to Etihad Airways and for being mentioned as an intermediary in reporting related to the Dubai Papers investigation.

WWW ads-securities.com

History

ADS Securities was founded in March 2011 with initial private capital. Philippe Ghanem was appointed as CEO, and Mahmood Ebraheem Al Mahmood was the executive chairman.
In April 2011, shortly after its establishment, ADS Securities received recognition as the "Fastest Newcomer" at the Middle East Forex Awards. By May 2011, the firm reported daily trading volumes of approximately $2 billion and announced that prime brokers including Goldman Sachs and BNP Paribas had joined its platform. In August 2011, the company expanded by registering ADS Securities Hong Kong Limited.
By 2014, ADS Securities had over 10,000 clients. On 4 May 2016, it introduced OREX mobile, an Arabic-language trading application. By 2017, the firm reported a global presence with offices in London, Singapore, and Hong Kong, and launched Bitcoin CFDs for clients in the MENA region.
In 2017, the group launched ADS Investment Solutions, focusing on wealth and asset management.
In early 2018, ADS Securities incorporated Autochartist into its trading platform and expanded its cryptocurrency offering to include Bitcoin Cash, Litecoin, and Ripple. In June 2018, the company rebranded itself from ADS Securities to ADSS.
In June 2019, ADS Investment Solutions launched a Saudi Arabian smart beta fund. A month later, Philippe Ghanem resigned as CEO, with Mahmood Ebraheem Al Mahmood temporarily stepping into the CEO role. The company experienced further senior executive turnover in subsequent years.
In January 2024, ADSS introduced a cloud-based trading platform developed in collaboration with Adaptive Financial Consulting, positioning it as an alternative to MetaTrader 4.
On 6 June 2024, ADSS became an official trading member of the Abu Dhabi Securities Exchange.
In October 2024, Ahmad Khalifa Almehairi was appointed as CEO of ADSS, succeeding Mahmood Ebraheem Al Mahmood.

ADSS UK

In 2012, ADSS expanded into the UK market with the establishment of ADSS UK, securing authorisation from the Financial Conduct Authority. In 2016, the subsidiary reported an operating loss of £3.1 million, prompting a restructuring that included team downsizing, expense reductions, and a shift toward retail business. Despite these efforts, the UK division experienced declining revenues. 2019 saw a 44% drop in activity, partially offset by a £3.26 million capital injection from the parent company. In 2020, revenues fell from £4.99 million to £3.09 million. A notable but brief recovery in 2021, marked by a 362% profit increase, coincided with a continued 34% fall in overall revenues and client funds. Between 2021 and 2023, several top executives, including CEO Paul Webb, departed from the UK subsidiary.
In July 2023, ADSS withdrew from the UK market and applied to cancel its FCA authorisation.

Operations

ADS Securities LLC is a limited liability company incorporated under the laws of the United Arab Emirates, registered with Abu Dhabi's Department of Economic Development. It is authorised and regulated by the UAE Securities and Commodities Authority as a broker for certain over-the-counter derivatives and foreign exchange products.
ADSS offers brokerage and trading services powered by proprietary multi-asset trading technology. The firm's business areas also include cross-asset investment services and wealth and asset management services. ADSS was among the first firms to offer a Dubai Oil CFD, providing regional investors access to local commodity markets.
According to the European Business Review, ADSS provides customer support services during weekdays only.

Controversy

In 2022, the Abu Dhabi Global Market Financial Services Regulatory Authority found that ADSS's wealth-management subsidiary, ADS Investment Solutions Limited, had breached the Common Reporting Standard Regulations by failing to properly collect, verify and report required CRS information. The FSRA imposed a total financial penalty and administrative fees of AED 30,000 and ordered remedial actions.

Etihad fundraising issue

Between 2014 and 2016, ADS Securities became involved in fundraising linked to Etihad Airways Partners that later attracted scrutiny from investors and creditors. In September 2015, Etihad Airways Partners priced a $500 million bond at 6.875%. A subsequent filing and ratings coverage described the notes as a $700 million 6.875% issue due in 2020. In May 2016, Etihad Airways Partners raised an additional $500 million in a second bond issue. The funds were used to support airlines in which Etihad had equity stakes, including Air Berlin, Alitalia, Jet Airways, Air Serbia, and Air Seychelles. In 2016, ADS Securities failed to complete a transaction involving $85 million worth of RNTS Media shares, shifting the financial burden onto Goldman Sachs. Private investigations commissioned by creditors subsequently identified Lars Windhorst as the principal architect behind these controversial deals.

Dubai Papers

According to reporting by Africa Intelligence and other outlets on the Dubai Papers, ADS Securities was mentioned among intermediaries in an alleged money laundering and tax avoidance scheme associated with Helin International, involving transfers by ultra-high-net-worth individuals and public figures, including European aristocrats, Russian oligarchs, and former president of Angola José Eduardo dos Santos, among more than 200 Helin International clients.