The Dubai International Financial Exchange (DIFX) has accepted Mashreq Capital DIFC Ltd as a Member firm able to trade securities.
Mashreq Capital DIFC Ltd is the 11th firm to join the DIFX, which has attracted a range of prominent Members based both internationally and in the region. It is based in the Dubai International Financial Centre and has joined as a trading member.
Earlier this year, Mashreqbank, the parent company of Mashreq Capital DIFC Ltd, listed on the DIFX its US$750 million Euro Medium Term Note Programme as well as two series of Floating Rate Notes issued under it.
Abdul Aziz Al Ghurair, Chief Executive of Mashreqbank, commented: “The DIFX will serve as a gateway for the flow of capital to and from the region. We look forward to operating on the DIFX as an active market participant and we believe it will become the premier international exchange in the Middle East.”
Nasser Alshaali, Chief Operating Officer of the DIFX, commented: “We are delighted to welcome Mashreq Capital as the latest firm owned by a United Arab Emirates bank to join the DIFX.
“This is a significant step forward as the DIFX strengthens its role as a platform for local and regional companies to reach out to the global market. We aim to attract many more regional and international Member by the end of this year.”
The DIFX is the region’s first international financial exchange for equities, bonds, Islamic products, funds, index products and derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent.
The exchange launched in September 2005 and currently has 11 Member banks – Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, EFG-Hermes, HSBC, KAS BANK, Morgan Stanley, SHUAA Capital, UBS and Mashreq Capital DIFC Ltd.
The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority. www.difx.ae
