Dubai - Mubasher: Emirates NBD on Wednesday stated that it had signed an agreement with the UAE-based brokerage firm Shurooq Stocks & Bonds to provide the latter with clearing services.
“Emirates NBD offers an unparalleled financial proposition to trading members and brokerage firms in the country,” said Emirates NBD Group’s Executive Vice President, according to a bank statement.
“We want to thank Emirates NBD for their integrated approach to stock market settlements, which will add depth to the UAE’s equity markets. We look forward to working closely with the bank on our transactions,” Hassan Al Shamsi, Shurooq Stocks & Bonds’ Chairman commented.
Emirates NBD is the first financial services entity in the UAE to be approved by the Securities and Commodities Authority (SCA) as a General Clearing Member to provide clearing and settlement services to trading participants of the UAE’s equity markets.
