简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:UAEs stock exchange, Dubai Financial Market (DFM) announced on Tuesday that it has onboarded HSBC as the first international General Clearing Member (GCM). It enabled the London-headquartered bank to provide clearing and settlement services to the DFM trading members.
The bank will start offering its GCM services in April.
It is also looking to expand services in the equities futures clearing.
Take Advantage of the Biggest Financial Event in London.
HSBC is expected to start offering its GCM services by next month on DFM Equity Market.
“The introduction of HSBCs GCM service on DFM is a key step toward a series of enhancements to market accessibility planned as part of our growth strategy,” said Hamed Ali, the CEO of DFM and Nasdaq Dubai.
“HSBCs regional and international footprint and capital markets expertise will, I believe, help accelerate our growth plans. We are witnessing growing demand for direct connectivity on DFM from regional and international investors and launching this new service responds directly to that growth in market activity.”
A Broader Collaboration
The official press release further highlighted that the latest addition of HSBC as a GCM came as a part of its wider collaboration with the Dubai-based stock exchange. The entities are aiming to enhance market infrastructure and connectivity with international and institutional investors.
The DFM has developed its post-trade infrastructure under the subsidiary, Dubai Clear. It cleared and settled trades valued over AED 72 billion through its CCP framework last year.
Meanwhile, HSBC is looking at the opportunities for expanding its services to equities futures clearing.
“Being the first international general clearing member on the Dubai Financial Market aligns well with HSBCs ambition to be the preferred international financial partner of our clients around the world,” the CEO and International Head of HSBC UAE, Abdulfattah Sharaf said.
“The appetite of international investors for securities issued by governments and corporates in the region is large and growing, and our new role as a general clearing member on the DFM will enable clients across HSBCs global network to invest in the potential here.”
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
In the world of online trading, a common misconception persists: trading is often seen as no different from gambling. This belief is particularly prevalent among newcomers, who may view the financial markets as a fast-paced game where winning is just a matter of luck. But trading, when done correctly, is far from mere chance!
Saxo Singapore will discontinue SaxoWealthCare and SaxoSelect by December 2024, advising clients to withdraw funds and offering alternative investment options.
Spartan Capital Securities, LLC, a brokerage firm, has agreed to a settlement with the Financial Industry Regulatory Authority (FINRA), which includes a fine of $115,000, a censure, and the requirement to retain an independent consultant.
TradingView adds Irish stocks from Euronext Dublin, broadening access to 30 companies, including Ryanair and Kerry Group.