DFM welcomes Switzerland’s leading online bank “Swissquote” in a drive to expand market access

DFM welcomes Switzerland’s leading online bank “Swissquote” in a drive to expand market access

As part of its constant efforts to boost market accessibility for greater numbers of international investors, Dubai Financial Market (DFM) today welcomed Swissquote Bank Ltd, Switzerland’s leading online Bank, endeavor to allow its clients’ access to DFM listed securities from October 25th, 2022.

Swissquote Bank is the leading Swiss provider of online financial services granting its clients access to trade an extensive range of asset classes that include stocks, ETFs, funds, bonds, derivatives, cryptocurrencies, and more. Swissquote’s AUC stands at over US$ 50 billion. With a Tier 1 ratio of over 25 percent, the bank is one of the best-capitalized banks in Europe.

Commenting on this significant approach, Hamed Ali, CEO of DFM and Nasdaq Dubai said:

“We are pleased to have Swissquote Bank connecting to DFM’s ecosystem as part of our efforts to strengthen our leadership in capital markets’ digital transformation. We are actively implementing a wide-ranging plan to take market accessibility to new pinnacles by increasing the number of technology-driven members capable to provide investors with multiple value-added services and attracting new investors to join our growing investor base.”

Jacques Barakat, CEO of Swissquote Middle East added:

“Given our local and international client base, providing direct access to the growing investment opportunities that the Dubai Financial Market offers is of strategic importance for our group and demonstrates our ambition to expand further our presence in the UAE.”

Swissquote is connecting to the DFM through the Direct Market Access (DMA) Route of GTNME-BHM Capital, noting that the DMA enables DFM-licensed brokerage companies to mandate a global broker to use its DMA access point to directly trade on the market.

“As a DIFC headquartered investment firm, we remain committed to our longstanding partnership with DFM facilitating trading and investment flows into our region”

said Samer Abuzahra, CEO of GTN Middle East Financial Services (DIFC) Limited (“GTNME”).

“We are delighted with Swissquote onboarding to the DFM’s ecosystem, which further expands GTNME’s institutional relationships.”

Abdel Hadi Al Sa’di, Chief Executive Officer of BHM Capital, said

“Our thanks go to Dubai Financial Market for recognizing BHM Capital as a trusted financial partner, and an integral part of the UAE’s capital market infrastructure. This collaboration underlines our commitment to identify synergies and potential opportunities, which strengthens Dubai’s position as a capital markets hub, in line with the leadership’s vision and the strategic plan to develop financial markets in Dubai.”

News Source: Dubai Media Office

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