UAE-based brokerage Daman Securities, a subsidiary of Daman Investments, has joined Nasdaq Dubai to provide its clients in the GCC and beyond with access to the exchange, which lists regional and international shares in the Middle East.
As an individual clearing member of Nasdaq Dubai, Daman Securities will be able to clear its own trades and those of its clients, adding to its successful list of services which includes UAE markets trading, sharia trading, margin trading and online trading. The agreement intends to further strengthen liquidity, pricing, and trading services offered to the bourse’s investors.
With the arrival of Daman Securities, 37 brokers are connected to the exchange as members, including most of the UAE’s leading brokers and most leading international investment banks.
FBS Has Added New Pharma Stocks with Intense Growth RatesGo to article >>
As an expanding and liquid exchange with a broad international investor base, Nasdaq Dubai provides attractive opportunities to make markets in a variety of securities. The market currently consists of single stock futures on contracts on nine leading UAE-listed companies: Emaar Properties, DXB Entertainments, Abu Dhabi Commercial Bank, Aldar Properties, Arabtec Holding, DP World, Dubai Islamic Bank, Etisalat and Union Properties.
Shehab Gargash, Chairman of Daman Investments, commented: “As Daman Securities strengthens its position as a leading provider of brokerage services in the UAE, we are delighted to offer our clients the exciting investment opportunities that are listed on Nasdaq Dubai’s market. We will deepen our relationship with the exchange as it expands as the region’s international listing centre for high quality companies and develops new asset classes.”
Hamed Ali, Chief Executive of Nasdaq Dubai, added: “Daman Securities’ acknowledged expertise and knowhow in the regional capital markets are an important addition to our market as it prepares for further growth. The exchange looks forward to adding substantially to its range of equities including listing further initial public offerings (IPOs), enabling companies in the region and beyond to raise capital and benefit from their shares being traded by a wide range of investors.”