NBAD expands custody services to NASDAQ-Dubai

Abu Dhabi: The National Bank of Abu Dhabi (NBAD), has become a Direct Custodian for NASDAQ-Dubai, thus availing Direct Custody services for all three UAE stock markets.

This milestone cements NBAD Custody’s complete product proposition; inter-mediating inflow, intra-regional & outflow investments. The custodian plays an integral role in the capital markets by segregating the trading and post-trading activities, hence minimising investment risks and providing investors with clearing and settlement services as well as assets servicing. NBAD is the first licenced Custodian bank and the only banking institution originating from the UAE that is licenced by the Emirates Securities & Commodities Authority to be a custodian or custody services provider. As a custodian, NBAD provides services such as equity and fixed income securities settlements, safekeeping, pre-matching, corporate actions, income collection, proxy services, market claims, cash management, foreign exchange, reporting, market expertise and information services to clients. It avails a single entry point for the post-trading services for local, regional and international stock markets.