Michael Fernandez, General Manager, CBD Financial Services said, "As the Middle East's international stock exchange, Nasdaq Dubai offers a wide variety of regional and international equities. We are delighted to connect our client base of high net worth individuals and corporate clients to the expanding opportunities provided by the exchange to enable them to expand and diversify their portfolios."
"As the exchange's first Dubai-based General Clearing Member, we also look forward to facilitating activities on the exchange by other brokers," he added.
CBD Financial Services, a subsidiary of Commercial Bank of Dubai, is regulated by the Securities and Commodities Authority and has joined Nasdaq Dubai directly from the regulatory jurisdiction of the UAE.
Jeff Singer, Chief Executive of Nasdaq Dubai, said, "As a well established local brokerage, CBD Financial Services provides a new pathway to Nasdaq Dubai securities for a range of investors."
"Joining the exchange from the UAE regulatory jurisdiction provides straightforward access to the Nasdaq Dubai market. We look forward to working with CBD Financial Services to further develop activity on the exchange," Singer added.
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CBD Financial Services joins Nasdaq Dubai as General Clearing Member
- United Arab Emirates: Monday, April 13 - 2009 at 11:30
- PRESS RELEASE
Dubai-based broker CBD Financial Services has joined Nasdaq Dubai as a General Clearing Member (GCM), enabling it to trade directly on the exchange and provide Clearing services to other Members.
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Notes and media contacts
About Nasdaq Dubai:Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, exchange-traded commodities, structured products, Sukuk (Islamic bonds) and conventional bonds.
The majority shareholder of Nasdaq Dubai is Borse Dubai with a two-thirds stake. Nasdaq OMX Group owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
For more information, please contact:
Mark Fisher
Nasdaq Dubai
Tel: +971 4 3612220
or
Maliha Aqeel
Account Manager - Finance Practice
Jiwin Public Relations
Tel: +9714 3613598
Burgess Baria
Senior Account Executive - Finance Practice
Jiwin Public Relations
Tel: +9714 3642199
Posted by Rana MesbahMonday, April 13 - 2009 at 11:30 UAE local time (GMT+4)
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