Daman Markets, the forex and CFD trading service from Daman Securities, has announced a new sponsorship as an Official Event Partner for the Dubai Racing Club (DRC) during the 2024–25 racing season.

The contract signing occurred at the Dubai Racing Club at Meydan Racecourse, attended by Samer Mourched, CEO of Daman Markets, and Ahmed Waheed, General Manager of Daman Securities.

Daman Markets Partners Dubai Racing

The Dubai Racing Club is known for its exclusive partnerships, making this collaboration a notable event for Daman Markets. This sponsorship reflects Daman Markets’ goal to align with institutions, like the Dubai Racing Club and Meydan Racecourse.

The Dubai World Cup, organized by the DRC, is a global horse racing event held in the UAE. It attracts top competitors and spectators worldwide. Daman Markets has also expanded from a local foundation to serve clients globally, focusing on providing trading services.

Daman Markets, operated by Daman Securities LLC, is licensed by the UAE’s Securities and Commodities Authority and has over 20 years of experience. The firm specializes in CFDs across various sectors, including forex, stocks, indices, commodities, and futures.

“Our partnership with Daman Markets represents a significant step forward,” Ali Al Ali, CEO of Dubai Racing Club, remarked.

“It marks a promising direction for our collaboration with a clear goal—to introduce something fresh and transformative to the market. This partnership not only aims to broaden our product offerings but also seeks to redefine how ownership in the racing industry can be experienced, making it more accessible and innovative.”

Daman Markets and Horse Tokenization

The sponsorship could lead to exploring horse tokenization Tokenization Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Read this Term, presenting clients with innovative investment opportunities in horse racing. As the first local broker to sponsor horse racing, Daman Markets aims to connect traditional horse racing with modern financial practices, enhancing engagement in both sectors.

“We are honored to be the first broker to sponsor this sport in the UAE,” commented Mourched.

“Horse racing is deeply rooted in the country’s cultural heritage, and at the same time, has marked Dubai as a global hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term for the sport. With this partnership, we aim to reflect our strong ties to the region and look forward to connecting with people on a deeper level through this iconic sport.”