Direct Broker for Financial Services LLC joins NASDAQ Dubai

Direct Broker for Financial Services LLC joins NASDAQ Dubai

Online broker becomes newest UAE member of international electronic exchange

January 11, 2009

Direct Broker for Financial Services LLC (DBFS), the operator of the Mubasher Trade online trading system in the UAE, has joined NASDAQ Dubai as a Member.

DBFS is a subsidiary of Mubasher Financial Services, which operates the Mubasher trading system across all the Gulf Cooperation Council (GCC) countries, Egypt, and many other international markets. DBFS is the fourth broker to join NASDAQ Dubai directly from the regulatory jurisdiction of the UAE and is a leading broker on the UAE exchanges. The company ranked second in the Dubai Financial Market stock exchange for the month of November 2008 in terms of turnover and ranked first in terms of number of trades, proving its resilience amidst the ongoing global financial crisis.

Ibrahim Abu Gharbieh, CEO, DBFS, said: “We have been offering our Customer online execution in NASDAQ Dubai for a long time through one of the international Banks in DIFC, and we are delighted that we can now offer our retail and institutional clients in the UAE, as well as throughout the GCC and beyond, the opportunity to extend their trades by directly trading securities listed on NASDAQ Dubai. By becoming a Member of the international exchange serving the region, we are providing access to a unique and growing range of regional and international securities for the thousands of investors who trade through the Mubasher systems.”

“Through its online trading platform, DBFS is established as a prominent broker on UAE exchanges. Its arrival as a NASDAQ Dubai Member links the exchange directly to a significant group of investors and is a further step in enhancing accessibility to the exchange across the region,” added Jeff Singer, CEO, NASDAQ Dubai.

Direct Broker for Financial Services LLC has joined NASDAQ Dubai as an Individual Clearing Member (ICM), a status which enables it to execute and clear its own and its customers’ trades.

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 shares, derivatives, structured products, Sukuk (Islamic bonds) and conventional bonds.

The majority shareholder of NASDAQ Dubai is Borse Dubai with a two-thirds stake. NASDAQ OMX Group 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). For more information, visit http://www.nasdaqdubai.com/


About DBFS

Mubasher Trade is the first online trading engine in the region allowing investors to trade in multiple markets as one Financial Market. Mubasher operates the most advanced multi market e-trading platform in the MENA region with advanced order types and algorithmic trading tools for sophisticated traders. Mubasher also operates a DMA platform providing local and international institutional investors a one stop order routing gateway to the Arab World and beyond.