Tuesday 19 March 2024
 
»
 
»
Story

Salem Al Mazrouei and Deeptha Premasinghe, head,
general clearing member services, Emirates NBD.

Emirates NBD to offer clearing services to Delma Brokerage

DUBAI, July 24, 2017

Emirates NBD, a leading bank in the region, today announced the signing of an agreement to offer clearing services to UAE-based Delma Brokerage, making the brokerage firm the first non-affiliate trading member to sign with the bank.

Emirates NBD is currently the first UAE-based financial entity to be approved by the Securities and Commodities Authority (SCA) as a General Clearing Member providing clearing and settlement services to trading participants of the UAE’s equity markets.

The signing ceremony took place in the presence of Dr Maryam Buti Al Suwaidi, deputy CEO for licensing, supervision and enforcement, Assistant Under Secretary, SCA; Khalid Al Shaikh, SCA head of licensing; Hassan Al Serkal, head of operations division of Dubai Financial Market (DFM); Maryam Mohd Fekri, head of clearing, settlement and depository division of DFM; and Mohamed Al Muhairi, head of clearing, settlement and depository division of Abu Dhabi Securities Exchange (ADX) and senior officials from Emirates NBD and Delma Brokerage.

“As the first and only qualified general clearing member for the UAE equity markets, we are uniquely positioned to offer trading members in the UAE a range of tools and products in addition to access to credit facilities which will enhance their operational and cost efficiency,” said Tariq Bin Hendi, executive vice president and head of products and advisory, Emirates NBD Group. “We are pleased to extend our trusted services to Delma Brokerage and look forward to continuing to support additional trading participants in the UAE’s markets.”

Salem Al Mazrouei, chairman of Delma Brokerage, expressed his delight at the strategic partnership between Delma Brokerage and Emirates NBD, confirming that it is the culmination of a long standing co-operation between the two institutions.

Hisham Amer, CEO of Delma Brokerage, added: “This move will further protect investors and preserve their funds through our strategic partnership with Emirates NBD as a General Clearing Member.” -TradeArabia News Service




Tags: Emirates NBD |

More Finance & Capital Market Stories

calendarCalendar of Events

Ads