Dubai
Emirates NBD said on Wednesday it has signed an agreement to offer clearing services to UAE-based brokerage firm Shurooq Stocks & Bonds.
“Being the first qualified General Clearing Member in the UAE, Emirates NBD offers an unparalleled financial proposition to trading members and brokerage firms in the country, providing them with the services needed to enhance their operational and cost efficiencies. With a stronger regulatory environment in place designed to help trading members, we are pleased to welcome on-board Shurooq Stocks & Bonds and expect more brokerage firms to avail our services going forward,” said Tariq Bin Hendi, Executive Vice President and Head of Products & Advisory, Emirates NBD Group in a statement.
Emirates NBD is the first UAE-based financial services 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.
