Emirates NBD to offer clearing services to Delma Brokerage

DUBAI / Emirates Business

Emirates NBD, a leading bank in the region, announced the signing of an agreement to offer clearing services to UAE-based Delma Brokerage, making the brokerage firm, the first non-
affiliate Trading Member to sign with the bank.
Emirates NBD is currently the first UAE-based financial 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.
The signing ceremony took place in the presence of Her Excellency Dr Maryam Buti Al Suwaidi, Deputy CEO for Licensing, Supervision and Enforcement, Assistant Under Secretary, SCA – Securities and Commodities
Authority; Khalid Al Shaikh – ‘SCA Head of Licensing; Hassan Al Serkal, Head of Operations Division of Dubai Financial Market (DFM); Maryam Mohd Fekri – Head of Clearing, Settlement and Depository Division of Dubai Financial Market (DFM); and Mohamed Al Muhairi – Head of Clearing, Settlement and Depository Division of Abu Dhabi Securities Exchange (ADX) and senior officials from Emirates NBD and Delma Brokerage.
“As the first and only qualified General Clearing Member for the UAE equity markets, we are uniquely positioned to offer Trading Members in the UAE a range of tools and products in addition to access to credit facilities which will enhance their operational and cost efficiency,” said Tariq Bin Hendi, Executive Vice President and Head of Products & Advisory, Emirates NBD Group. “We are pleased to extend our trusted services to Delma Brokerage
and look forward to continuing to support additional trading participants in the UAE’s markets.”
Salem Al Mazrouei, Chairman of Delma Brokerage, expressed his delight at the strategic partnership between Delma Brokerage
and Emirates NBD, confirming that it is the culmination of a long standing co-operation between the two
institutions.
Hisham Amer, CEO of Delma Brokerage, added: “This move will further protect investors and preserve their funds through our strategic partnership with Emirates NBD as a General Clearing Member.”