Arqaam Capital wins top DFM ranking
Dubai, August 11, 2012
Arqaam Capital, a specialist emerging markets investment bank, said its brokerage business, Arqaam Securities, has secured the top ranking on the Dubai Financial Market (DFM).
Arqaam pointed out that its brokerage business previously achieved the 12-month average number one position on Nasdaq Dubai for the full year 2011, during which time Arqaam held over 25 per cent of market share.
In July 2012, Arqaam Securities executed Dh617,761,953 worth of trades on the DFM, the company said in a statement.
'This is a great achievement for our equity brokerage team and a testament to their continued efforts to build market share in the UAE. We are focused on building our brokerage platform across Mena and our work in the UAE is the cornerstone of this offering,' remarked Tarek Lotfy, the managing director, Capital Markets.
'We are constantly looking for ways to provide clients with new investment opportunities across Mena and our growing team offers unparalleled insight into those markets. Our efforts have clearly been rewarded by our clients, and we look forward to building on July’s success in the months and years to come,' he added.
Earlier this year, Arqaam acquired the Egyptian brokerage firm, El Rashad Securities Brokerage, said Lotfy.
As part of the agreement, Arqaam purchased El Rashad’s operations and brokerage licence, expanding the Bank’s reach into the Egyptian market, he stated.-TradeArabia News Service