Dubai, United Arab Emirates - December 14, 2011 - ICD Middle East (ICD) today commenced operations in Dubai, United Arab Emirates (UAE), the world's first money market fund (MMF) portal licensed to arrange credit and deals in investments in the Middle East by the Dubai Financial Service Authority (DFSA). ICD's new offices in the Dubai International Financial Centre set the stage for expanded global MMF trading and risk management in a new era of investing for this booming region.  ICD Middle East is a subsidiary of Institutional Cash Distributors Limited.

Dubai is the latest in a series of successes for ICD, the trading and risk management company that specializes in people, products and processes for corporate treasury. In 2003, ICD launched one of the original MMF trading portals in the United States. In 2005, ICD launched the first portal in the European market with the opening of trade desks and sales offices in London under England's Financial Services Authority by 2010. ICD is the only web-based, cash-trading portal in Canada with securities registrations in Ontario, British Columbia, Quebec and Alberta. Of note, ICD was also first-to-market with the category-defining money market fund exposure analytics application, Transparency Plus® in July 2010.      

ICD's new strategic UAE base is managed by ICD's EVP, John Bennie, who most recently led ICD's European business development and the company's Global Trade Desk in London.  Ed Baldry, ICD's CEO Europe commented, "John Bennie has developed excellent relationships in the Middle East market place over recent years. We are excited about his complete commitment to the region," continued Baldry, "This is where we expect great future growth in money market funds and ICD is focused on facilitating the expansion."

ICD's dedication to the region was rewarded with the establishment of its first Middle Eastern account.  "I have had the pleasure of dealing with ICD for many years in Europe and now look forward to continuing the relationship with ICD from Dubai. I have found the ICD system delivers outstanding operational efficiency and their service/support is second to none," stated Matt Norris, Treasury Manager of Petrofac, Ltd.

ICD's Middle Eastern debut nearly coincides with the November 2011 launch of its next-generation ICD Portal with Transparency Plus®. ICD Portal delivers end-to-end investing 'best practices' like portfolio diversification, exposure analytics, compliance management, optimization trading and dynamic reporting. "The Internet makes portal trading possible and we can put the business world at your fingertips," remarked ICD's Bennie, "However, meaningful relationships are made face-to-face and ICD is offering its dedicated treasury resources in creating a respected presence in one of the economic centers of the Middle East."

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About ICD
Comprised of FINRA/SIPC member Institutional Cash Distributors LLC, Institutional Cash Distributors Ltd, a U.K. Financial Services Authority registered firm and its branch office DFSA registered ICD Middle East, ICD is the world's premier MMF trading and risk management portal, providing superior services to corporate treasuries worldwide. More information about ICD is available at www.icdportal.com

Media Contact
Debby Barri, ICD Public Relations Director
424-206-2402, debby.barri@icdfunds.com

ICD, LLC
580 California Street, Suite 1335
San Francisco, CA 94104
www.icdfunds.com
 

© Press Release 2011