Standard Chartered opens regional trading hub at DIFC |
|
29 April 2008
Dubai: Standard Chartered BankStandard Chartered Bank
on Monday opened their regional trading hub for the Middle East and Africa at the Dubai International Financial Centre (DIFC)Dubai International Financial Centre (DIFC).
The new trading floor hosts 200 seats and is the largest such facility in the region. "It strengthens the operations of our regional headquarters for Middle East and Africa. Apart from being a regional hub, it will also function as one of our key global trading hubs and will be in the league of similar facilities in London and New York," said Shayne Nelson, Regional CEO for Middle East and North Africa.
As one of the bank's global hubs, this facility will include specialist global roles focusing on key product areas such as risk management advisory, structuring, interest rates derivatives, foreign exchange, ecommerce, credit trading and capital markets related trading with a wide spectrum of products covering fixed income, syndications, asset-backed securities, credit derivatives and convertible bonds.
Besides this platform, Standard CharteredStandard Chartered has two other trading rooms in the UAE and individual trading rooms for each of the countries it operates in the region.
Closer
"The idea behind hosting a trading platform of this scale in Dubai is to be near to our customers. With our regional headquarters based in Dubai, it makes more sense for us to host our trading platform from here," said Boon Huat Lee, Managing Director and Regional Head of Global Markets, Middle East and North Africa.
"Standard CharteredStandard Chartered's new trading room sets fresh benchmarks in the region for state of the art facilities that help customers conduct trading activities," Dr Omar Bin Sulaiman, Governor of DIFCDIFC, who officially opened the facility.
Sanctions: Iran office to be shut
Standard Chartered BankStandard Chartered Bank, which has a representative office in Iran is closing down the office as part for adhering to the US sanctions against Iran.
"We are in the process of shutting down our representative office in Iran. We do care about the US and United Nations sanctions," said Shayne Nelson, Regional CEO for Middle East and North Africa told Gulf News on Monday.
The British bank, that has had banking relations with, Iran for the past several decades said on Monday that it is not doing any business in that country.
By Babu Das Augustine
© Gulf News 2008. All rights reserved.
Comment on this article 
Loading ...-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Stories
Loading...Companies
Loading...Projects
Loading...Blogs
Loading...