Emirates NBD today announced that UAE-based Pioneers Waseet Securities has signed up as a trading member to avail the bank’s settlement and clearing services.

Following the approval by the Securities and Commodities Authority, SCA, as a ‘General Clearing Member’, Emirates NBD has added several clients to its portfolio making it the market leader in providing clearing and settlement services to trading participants of the UAE’s equity markets.

Commenting on the partnership, Tariq bin Hendi, Executive Vice President and Head of Products and Advisory at Emirates NBD Group, said, “We are delighted to offer Pioneers Waseet Securities a range of efficient and cost-effective services as we continue to expand our coverage of brokerage firms in the UAE.”

In turn, Sheikh Majid bin Hamad Al Qasimi, Chairman of Pioneers Waseet Securities, said, “Emirates NBD is a trusted name and signing with the leading bank in the UAE to provide clearing and settlement services will help us strengthen reputation and instil investor confidence. We look forward to working closely with them as we continue to add value to our clients.”