Riad Meliti CEO of Arqaam Capital said: “All the indicators look positive for 2014 being the start of a spell of strong performance for the UAE’s economy and its capital markets. By extending our membership of Nasdaq Dubai, we are ensuring we can give our clients the access they need to a vibrant market.”
Arqaam Capital is already a member of Nasdaq Dubai’s equity derivatives market, which comprises futures on the FTSE Nasdaq Dubai UAE 20 index and on 20 prominent companies listed in the UAE. Arqaam Securities, the bank’s UAE brokerage company, is also a member of the NASDAQ Dubai equities market.
Hamed Ali, chief executive of Nasdaq Dubai, said: “As a leading investment bank and broker with a substantial client base, Arqaam Capital adds further depth and reach to NASDAQ Dubai’s equities framework. The exchange looks forward to working with Arqaam Capital in a number of areas to develop the investment and hedging tools that we offer to market participants.”
“Nasdaq Dubai will strengthen its focus on attracting new listings of equities as well as other asset classes, as more companies in the region and beyond seek to raise capital on the exchange to fuel their growth.”
The FTSE Nasdaq Dubai UAE 20 index rose 87% in 2013 to end the year at 3,397, reflecting a sustained rise in confidence in the UAE’s capital markets and economic prospects.