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ADFS becomes member of Nasdaq Dubai


UAE-based broker Abu Dhabi Financial Services, the financial brokerage arm of the National Bank of Abu Dhabi, has joined Nasdaq Dubai.

Membership of Nasdaq Dubai allows ADFS clients to trade securities on the region’s international exchange.

"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," says 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, says: "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.

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