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UAE: Emirates NBD Capital is now a custodian on ADX

The appointment is another step by ADX to boost liquidity

As a licensed custodian, Emirates NBD Capital provides safe and secure solutions for investors to hold securities. - KT file

A Staff Reporter

Published: Fri 24 Mar 2023, 2:34 PM

Abu Dhabi Securities Exchange (ADX) has expanded its custodial services offering by the new appointment of Emirates NBD Capital as a custodian.

Emirates NBD Capital obtained its custody licence from the UAE Securities and Commodities Authority (SCA). Emirates NBD Capital is the global investment banking arm of Emirates NBD, a leading banking group in the Menat (Middle East, North Africa and Turkey) region. It has partnered with BNY Mellon, the world’s biggest custodian bank, to offer custody services to its clients.

As a licensed custodian, Emirates NBD Capital provides safe and secure solutions for investors to hold securities, such as stocks, bonds or other assets. Custody services is an extension of Emirates NBD securities broader suite of security services. The Group’s alliance with BNY Mellon will also provide Emirates NBD customers access to BNY Mellon’s global custody, asset servicing, data and technology capabilities.

The appointment of Emirates NBD Capital and the expansion of custodian options is another step by ADX to boost liquidity, widen its international investor base and enhance the depth of its market, while broadening the listings pipeline, introducing new products and services, and enhancing corporate governance.

Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Securities Exchange, said: “We are delighted to welcome Emirates NBD Capital as a custodian member of ADX. The admission of Emirates NBD Capital marks another significant expansion in the custody options available to investors. We will continue to expand the range and quality of services and products we provide to investors, cementing ADX’s position as one of the most dynamic securities exchanges in the region.”

Mohammad Al Bastaki, CEO of Emirates NBD Capital, said: “We are pleased to offer custody services on ADX as part of our broader securities services offering. The alliance with BNY Mellon brings together Emirate NBD Group’s regional expertise and track record of excellence with the global know how of the world’s biggest custodian bank, providing our clients with custody services across multiple geographies while supporting the development of the post trade value chain and the growth of capital markets in the region.”