Emirates NBD to offer clearing services to Delma Brokerage

Dubai:

Emirates NBD 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 ‘SCA — Securities and Commodities Authority as a ‘General Clearing Member’ providing clearing and settlement services to trading participants of the UAE’s equity markets.

“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 & Advisory, Emirates NBD Group in a statement.

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