Dubai – Mubasher: Emirates NBD on Monday announced that it has signed an agreement with Index Securities to provide the latter with clearing services.

“With the UAE’s bourses gearing up for higher levels of trading activity, the country’s brokerage industry is anticipating a revival in the foreseeable future,” said Tariq Bin Hendi, executive vice president and head of products and advisory at Emirates NBD Group.

Emirates NBD is the UAE's first financial services entity to be approved by the Securities and Commodities Authority (SCA) as a general clearing member to provide clearing and settlement services for trading participants of the equity markets in the country.

"Our choice for Emirates NBD as a clearing member to carry out the clearing operations for the company's transactions was a natural fit due to the bank’s efficiency and outstanding service,” Mohammed Ayman Al Jubeh, index securities’ general manager, commented.