The Dubai International Financial Exchange (DIFX) today welcomed ABN
AMRO as a Member firm able to trade securities.
ABN AMRO has a long-standing commitment to the Middle East with
a presence in the United Arab Emirates (UAE) dating back to 1973. Currently ABN AMRO operates in more than 60 countries worldwide employing over 96,000 staff.
ABN AMRO becomes the 13th firm to join the DIFX, which has attracted a range of prominent Members based both internationally and in the region. It joins as an Individual Clearing Member.
Jeroen Drost, Chief Executive Officer, Asia, at ABN AMRO commented: "Dubai continues to develop as a world financial centre for our business in the region where we intend to significantly build our capabilities in order to foster stronger client relationships.
“We view the region as a key to the continued growth of our Middle East
capital markets franchise and our membership of the DIFX will strengthen this position, where the UAE will help fulfill our regional business potential."
Nasser Alshaali, Chief Operations Officer of the DIFX, commented: "The arrival of ABN AMRO, a leading international investment bank, at the DIFX is further evidence that the world's most prominent financial institutions regard the exchange as a key entry point to business opportunities in the Middle East and the rest of the DIFX region.
“The DIFX expects to list a significant number of initial public offerings of shares over the course of 2006, as well as other listings including bonds and Islamic products.”
About DIFX
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 13 Member banks – Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, EFG-Hermes, HSBC, KAS BANK, Morgan Stanley, SHUAA Capital, UBS, Mashreq Capital DIFC, Merrill Lynch and ABN AMRO.
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
ABN AMRO
Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 880.8 bln (as at 31 December 2005). It has over 3,000 branches in more than 60 countries and territories, and has a staff of over 96,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and the New York Stock Exchange.
