Broker joins exchange following merger of NASDAQ Dubai’s liquidity pool with DFM’s
The UAE broker Index Securities has become a Member of NASDAQ Dubai, enabling it to trade securities on the region’s international exchange.
Index Securities has joined NASDAQ Dubai to take advantage of the merger of its liquidity pool with Dubai Financial Market’s (DFM’s), which took place in July 2010.
Ayman Jubeh, General Manager of Index Securities, said: “Our individual and institutional clients are now able to trade NASDAQ Dubai securities in exactly the same way that they already trade on DFM, using the same Investor Number”.
“We are delighted to have gained access to the NASDAQ Dubai market, as it is easily accessible by regional as well as international investors and provides international transparency and governance standards. As the financial climate continues to improve in Dubai and across the region, we look forward to working with the exchange in the interests of our clients and the development of the regional financial sector.”
Index Securities is an established broker on DFM and the Abu Dhabi Securities Exchange.
Jeff Singer, Chief Executive of NASDAQ Dubai, said: “We are delighted to be working with Index Securities, which is able to link many new investors to the exchange. Index Securities’ arrival on our market supports the momentum we have achieved since our consolidation with DFM in July 2010.”
NASDAQ Dubai outsourced its trading, settlement, clearing and custody functions for equities to DFM in July 2010, as part of a strategy to merge DFM’s individual investors into one liquidity pool with NASDAQ Dubai’s institutional investors.