UAE-based Menacorp, a leading financial services firm, has become the first brokerage firm in the region to receive derivative membership under international financial exchange Nasdaq Dubai.

It will act as a trading and clearing member for securities and derivatives with the aim of leading the market by launching new financial products that are unique to the region.

In cooperation with Nasdaq Dubai, Menacorp will be significantly involved in product development to ensure the success of the new offerings. Moreover, it will bring international expertise to the regional market to make sure that the future products adhere to global standards in terms of characteristics.

Menacorp has committed to a large investment in its IT solutions in order to provide international benchmarks in reporting and risk management for derivative products, said Racha Al Khawaja, senior vice president, Menacorp.

“Our derivative membership under Nasdaq Dubai Limited will change the financial investment landscape in the GCC in general and the UAE in particular. Our brokers and sales team have been trained on the upcoming products to ensure success right from the launch. Additionally, we have in-house team proficient in international futures trading to make sure that our expertise reaches out to our clients,” she said.

Nabil Al Rantisi, managing director, Menacorp said: “Educating clients is paramount to the success of this initiative and the response so far has been extremely positive. We are closely working with the exchange and decision makers to add more listings before the end of the year.” – TradeArabia News Service