12 Nov, 2008Mashreq Securities Becomes First Member to Join DIFX from Jurisdiction of UAE

Landmark membership opens up new route to exchange for UAE retail investors.

The Dubai International Financial Exchange (DIFX) today welcomed Mashreq Securities LLC, one of the UAE"s leading brokerage firms, as its first Member to join from the jurisdiction of the UAE. The move opens up a new pathway to the exchange for UAE retail investors.

"The DIFX offers investors an exciting range of listed local and international companies, and we are delighted about the prospect of helping investors diversify their portfolio, while adding depth, stability as well as sophistication to our regional financial markets," stated Khaled Kurdieh, Chief Executive of Mashreq Securities.

"Mashreq Securities will now be able to transact and manage customer relationship through one single platform, with utmost efficiency, speed, and privacy," said Mr. Kurdieh.

Jeff Singer, Chief Executive of the DIFX, said: "The arrival of the UAE broking arm of one of the country"s leading banks is a landmark for the exchange, as we strengthen our links with UAE investors. Joining from the UAE provides simple and straightforward access to the DIFX market."

Mr. Kurdieh added: "At Mashreq Securities we strive to enhance the access of our retail and institutional investors by offering advanced and convenient platforms. "We look forward to serving as an effective and direct channel for retail investors into the DIFX."

In addition to the UAE, the jurisdictions from which firms may join the DIFX as Members are the DIFC, Germany, the Irish Republic, the Netherlands, Switzerland and the UK.