Emirates NBD Signs with First Trading Member in the UAEs Equity Markets
Emirates NBD, a leading bank in the region, today announced that it will certainly offer Cleaning Member solutions to its subsidiary, Emirates NBD Securities making the broker agent company, the first Trading Member to sign with the bank.
The announcement adheres to 'SCA - Securities and Commodities Authority, UAE's approval of Emirates NBD as its first General Clearing Member giving clearing and settlement services to trading individuals of the UAE's equity markets.
The signing ceremony took place in the visibility of Her Excellency Dr. Maryam Buti Al Suwaidi, Deputy Chief Executive Officer for Licensing, Supervision and Enforcement, Assistant Under Secretary, SCA - Securities and Commodities Authority; Khalid Al Shaikh-- 'SCA Head of Licensing; Hassan Al Serkal, Head of Procedures Department of Dubai Financial Market (DFM); Maryam Mohd Fekri - Head of Cleaning, Negotiation and Depository Division of Dubai Financial Market (DFM); and Mohamed Al Muhairi-- Head of Clearing, Negotiation and Vault Department of Abu Dhabi Securitie Exchange (ADX) and senior officials from Emirates NBD.
Her Excellency Dr. Maryam Buti Al Suwaidi stated that the finalizing of this arrangement complies with the option of Emirates NBD as the first General Clearing Member in the regional financial market and is a testament to the country's initiatives in constantly boosting its markets in accordance to global best method to meet the needs of global trading companions.
Al Suwaidi added that 'SCA anticipates Emirates NBD, as its very first General Clearing Member, to add to attaining the aspired goals in relation to the category of brokerage firm business as 'Trading member' and 'Trading and Clearing Member' which will certainly motivate various other UAE brokers to seriously consider coming to be 'Trading Member' as opposed to 'Trading and Clearing Member'.
" We delight in to provide clearing services to Emirates NBD Securities," claimed Tariq Bin Hendi, Executive Vice President and Head of Products & Advisory, Emirates NBD Group. "As we consolidate our setting as a main and trusted gamer in the UAE's equity markets, we anticipate using various other UAE brokers a series of services to sustain their trading and manage risk. We are functioning very closely with a number of other prospective members and anticipate making further statements as we safeguard new participants."
Moosa Ahmed, General Manager, Emirates NBD Stocks shared that this action will even more enhance the range of solutions provided by Emirates NBD Securities to their valued clients in addition to the total operational effectiveness for the broker agent field in UAE.
Emirates NBD Securities is currently a leading broker agent firm in the UAE with a diversified and expanding customer base, highlighted by a durable consumer treatment centre, dedicated connection managers, multi-markets to purchase, in addition to other services and products.
Seen below aware are Moosa Ahmed, General Manager, Emirates NBD Securities and Deeptha Premasinghe, Head - General Clearing Member Services, Emirates NBD.
