The international derivatives exchange Eurex has connected its first local broker from the United Arab Emirates (UAE). Orion Brokers DMCC, a member of Orion Holding Overseas S.A., was connected at the end of May 2008.
“We are very pleased to welcome the first local broker from the United Arab Emirates”, says Michael Peters, member of the Eurex Executive board. “Participants from the UAE have access to our entire product suite. We seeincreasing interest in our broad range of international benchmark productscoming from a fast growing region like the Emirates and we are very pleasedabout this development.”
“This is yet another addition to a continually expanding global podium, Orion Web-trader is a MENA (Middle East and North Africa) focused fully electronic platform that provides MENA investors access through its exclusive network, to regional and global markets. This facility opens up new investment and diversification opportunities for our customers,” says
Mohamed Hafez Khalil, CEO, Orion Holding Overseas.
“Dubai is the city of business opportunities, and Orion Brokers DMCC has set its vision to bring these opportunities through our products to the forefront of its investment platform. We are bringing once more international markets to investors through a business partnership with a reputable international derivatives exchange such as Eurex,” added
Younes Ouarzazi, deputy general manager, Orion Brokers DMCC.
Eurex received regulatory approval for its product suite from the DubaiFinancial Services Authority (DFSA) at the end of March 2007 and from theEmirates Securities & Commodities Authority in November 2006. The localAccess Point in Dubai has been up-and-running since beginning of May 2007. Eurex currently serves approximately 400 members in 21 countries.