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Global capital markets software developer Devexperts plans to establish operations in Dubai by mid-2025, as demand for its services grows across the Middle East and North Africa (MENA) region, the company announced today.
The Dublin-headquartered firm, which develops multi-asset trading platforms and exchange solutions, has seen particular growth in the United Arab Emirates (UAE) and Saudi Arabia over the past two years.
"The MENA region is fast becoming a hotspot for the trading industry, driving significant opportunities for brokerages," said Ben Hurley, CEO of Devexperts. “Devexperts' client base in the UAE and Saudi Arabia has increased rapidly over the past two years and leading us to now taking the formal decision to open an office in Dubai.”
"This is a strategic business decision and we are looking forward to establishing our presence in the UAE, continuing to support brokerages and other financial firms in the region with our services," Hurley added.
The Dubai expansion follows recent strengthening of the company's presence in Singapore and Australia earlier this year. Devexperts currently employs more than 800 engineers across offices in the USA, Germany, Singapore, Portugal, Turkey, Bulgaria and Georgia.
The company's core product, DXtrade, provides brokers with a platform for trading stocks, commodities, futures, options, forex, funds and cryptocurrencies. Its offerings also include DXtrade XT for proprietary trading firms, the DXmatch matching engine, and Devexa, an AI-powered trading assistant.
Dubai continues to position itself as a major financial hub, with the Dubai International Financial Centre (DIFC) reporting significant growth in registered firms throughout 2024. The emirate has also implemented various initiatives to attract financial technology companies as part of its broader economic diversification strategy.
