Abu Dhabi, Dubai, 22 December, 2010 - The UAE- based broker Abu Dhabi Financial Services (ADFS), the financial brokerage arm of the National Bank of Abu Dhabi (NBAD), has joined NASDAQ Dubai.
Membership in NASDAQ Dubai allows ADFS clients to trade securities on the region’s international exchange. ADFS is a leading brokerage company in the UAE with over a decade of experience in the local and regional markets.
"We are delighted to be able to link our retail and institutional clients to the opportunities provided by NASDAQ Dubai’s market. Our clients are now able to trade NASDAQ Dubai securities in exactly the same way that they already trade on the Dubai Financial Market,” said Aymen Samawi, the Managing Director of ADFS. “As the financial outlook continues to improve in the UAE and across the region, we aim to work with the exchange in the interests of investors and the expansion of the region’s financial sector.”
Jeff Singer, Chief Executive of NASDAQ Dubai, said: "We look forward to working with ADFS as it links new investors to the exchange, adding to the momentum we have achieved since our consolidation with DFM in July 2010. The arrival of ADFS on our market supports our plans for growth in 2011.”
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.
Abu Dhabi Financial Services LLC (ADFS) is a wholly owned subsidiary of National Bank of Abu Dhabi and is one of the top primary brokerage service providers in the UAE. ADFS commenced business in 1986 as the shares department of NBAD and has since evolved into independent entity which is regulated by the Securities and Commodities Authority. The Company is a market-focused, process-centered institution that offers retail, High Net
Worth Individuals and both local and foreign institutional clients innovative and professional services across the brokerage business.
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 equities, equity derivatives, exchange-traded commodities, structured products, Sukuk (Islamic bonds) and conventional bonds.
The majority shareholder of NASDAQ Dubai is Dubai Financial Market (DFM) with a two-thirds stake. Borse Dubai 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, visit www.nasdaqdubai.com.