Jan 30 2011 |
more articles from
|
Bank of America Merrill Lynch joins NASDAQ Dubai's equity derivatives market
Market's first derivatives General Clearing Member will provide vital post trade clearing services promoting further growth.Brooks Stevens, Head of EMEA Futures and Derivatives Clearing Services for Bank of America Merrill Lynch , said: "As the first GCM on the UAE's only on-exchange equity derivatives market, we look forward to playing a leading role in facilitating increased trading capacity within the region. NASDAQ Dubai 's equity derivatives platform provides investors with unique tools to hedge their exposure to shares of the UAE and other Middle East companies."
NASDAQ Dubai 's equity derivatives platform consists of futures listed on 21 individual UAE companies and on the FTSE NASDAQ Dubai UAE 20 share index. Companies in the index include DP World, which is listed on NASDAQ Dubai , and leading companies listed on the Dubai Financial Market and the Abu Dhabi Securities Market.
Dean Noble Head of Business Development of NASDAQ Dubai , said: " Bank of America Merrill Lynch 's arrival as a GCM is a landmark in the development of our equity derivatives platform. The market has huge potential for growth in a region where hedging mechanisms are in short supply and investors need to offset risk."
NASDAQ Dubai 's equity derivatives market won the Futures & Options World (FOW) 2009 Award for 'Best Innovation by an Exchange in Product Design, Middle East.'
-Ends-
About
NASDAQ Dubai
:
NASDAQ Dubai
is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists equities, equity derivatives, exchange-traded commodities, structured products, Sukuk (Islamic bonds) and conventional bonds.
The majority shareholder of NASDAQ Dubai is Dubai Financial Market ( DFM ) with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of NASDAQ Dubai is the Dubai Financial Services Authority (DFSA). NASDAQ Dubai is located in the Dubai International Financial Centre (DIFC).
www.nasdaqdubai.com
About
Bank of America Merrill Lynch
:
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,900 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and a member of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
www.baml.com
Media Contact: NASDAQ Dubai : Mark Fisher, NASDAQ Dubai +971 50 624 5805; mark.fisher@nasdaqdubai.com; Mohamed Tahboub, JiWin-APCO Public Relations +971 55 954 8665; mohamed.tahboub@jiwin.ae
Bank of America Merrill Lynch : Dubai - Manash Bhuyan, Financial Dynamics, 971 (0) 4 332 8832, manash.bhuyan@fd.com/ London - Andrew Todd, 44.20.7995.4265, andrew.todd@baml.com
© Press Release 2011
Zawya Comment Policy
-
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.
Comments By Our Users (1)
BAML opens door to acces equity derivatives on NASDAQ Dubai exchange.
GCC countries do need a good platform to trade equity derivatives and hedge the position ..
in current turmoil due to Egypt unrest .. it woiuld have been better option for Funds and big investors to hedge their position using Derivatives .. rather than seein their portfolio value going down or selling the portfolio at lower prices ..
Derivatives will not compete with equity markets but will compliment it and Equity volumes will also surge once activie derivatives market comes into existence .. lets hope NASDAQ Dubai provides GCC that gateway ...
Post Your Reply
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment