News - 03.03.09

Varengold Wertpapierhandelsbank AG, the first German investment bank with focus on the field of managed futures, is opening a new office in Dubai in March, thus continuing its international expansion strategy. The focus of business activities in Dubai will be on the capital market business segment and primarily on forex, which is among the core business fields of the investment bank founded in Hamburg in 1995. Appointed as head of the Dubai site is Ilja Perschbacher, managing director MENA. “We are very pleased that we can now serve our quickly expanding regional client base directly from this strategically important financial center,” says Perschbacher. "As part of our on-site services, we will also offer regular seminars providing an in-depth look at topics and trading opportunities in the foreign exchange market.” These seminars will be held on every first and third Wednesday of the month at the offices of Varengold Bank. Interested parties can request additional information at dubai@varengold.de.

With its new office, Varengold is providing efficient access for investors in the Middle East to the foreign exchange market, the world’s largest and most liquid market. Under the brand name “Varengoldbank FX,” the German investment bank offers an interactive, powerful and user-friendly trading platform on which currency pairs can be traded 24 hours a day.

Yasin Sebastian Qureshi, founder and member of the management board of Varengold Wertpapierhandelsbank, pointed out on the occasion of the opening of the offices: “In recent years, Dubai has become one of the fastest growing financial centers. The legal and regulatory framework, along with a continually growing demand for finance products and services of high quality, offer attractive growth prospects for a successful asset manager. With our fourteen years of experience as specialist in Germany in the area of managed futures, we provide investment products with an above average performance in addition to an innovative trading platform to traders and investors in the Middle East.”

Varengold’s foreign exchange trading technology enables traders that make speculative use of the exchange rate between two currencies to execute transactions around the clock. “Exchange rates can be affected by many factors: global economic growth, political events, interest rate differentials between currencies, as well as extreme weather conditions such as hurricanes or geopolitical events – factors which we, as specialists for managed futures, monitor and analyze continuously,” Quereshi continued. “At the beginning of our market activities in Germany, we built up and consistently improved the capital markets area as part of our own risk management. By now, more than 7,000 clients are making use of our brokerage services.”

In addition to the brokerage offering, Varengold also provides investors in the region with the opportunity to participate in the development of the managed futures products of the company, for example in the fund of funds hedge fund HI Varengold CTA Hedge, which just recently for the second time in a row won the title of best fund in the category Alternative Investments with an annual performance of 16.26 %.

Address:

Varengold (Dubai)

2nd Zabeel Road, World Trade Center

P.O.Box 78404

Dubai

U.A.E.

Phone: +971 4 3289 080

Fax: +971 4 3289 341

Contact:

Ilja Perschbacher

Managing Director –MENA

i.perschbacher@varengold.de

Simultaneous to the Dubai office opening, the company is launching the new internet page Varengold Bank FX (varengoldbankfx.com). In addition to comprehensive and constantly updated information concerning foreign exchange trading, the web pages offer state-of-theart technologies for successful trading. These include Fox Mobil (mobile trading via the mobile phone), Fox Trader (real time trading in more than 21 currency pairs) and Fox Professional (the option to implement a proprietary trading system).