CBD Financial Is NASDAQ's First Dubai-Based GCM

Dubai based broker CBD Financial Services has joined NASDAQ Dubai as a General Clearing Member (GCM), enabling it to trade directly on the exchange and provide Clearing services to other Members. CBD Financial Services, a subsidiary of Commercial Bank of

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Dubai-based broker CBD Financial Services has joined NASDAQ Dubai as a General Clearing Member (GCM), enabling it to trade directly on the exchange and provide Clearing services to other Members.

CBD Financial Services, a subsidiary of Commercial Bank of Dubai, is regulated by the Securities and Commodities Authority and has joined NASDAQ Dubai directly from the regulatory jurisdiction of the UAE.

As the Middle Easts international stock exchange, NASDAQ Dubai offers a wide variety of regional and international equities, says Michael Fernandez, general manager, CBD Financial Services. We are delighted to connect our client base of high net worth individuals and corporate clients to the expanding opportunities provided by the exchange to enable them to expand and diversify their portfolios.

“As the exchange’s first Dubai-based General Clearing Member, we also look forward to facilitating activities on the exchange by other brokers.”

“As a well established local brokerage, CBD Financial Services provides a new pathway to NASDAQ Dubai securities for a range of investors,” says Jeff Singer, chief executive, NASDAQ Dubai.

Joining the exchange from the UAE regulatory jurisdiction provides straightforward access to the NASDAQ Dubai market. We look forward to working with CBD Financial Services to further develop activity on the exchange.”

L.D.

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