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DFM and Deutsche Bank sign custody agreement

posted on 17/09/2008: 2708 views


Dubai Financial Market (DFM) and Deutsche Bank have announced that they have signed a Depository Participant Agreement (DPA). The agreement will enable Deutsche Bank to provide custody of DFM-listed securities to institutional and international clients, thus helping to broaden the Market's investor base.

With the signing of this agreement, Deutsche Bank is now able to offer custody services across the UAE's on-shore and off-shore exchanges.

By acting as a depository participant Deutsche Bank will be able to offer custodial services in the market for DFM-listed securities. These services include, but are not limited to: account management, protection of client assets, settlement of securities activity, handling post trade issues, collection and payment of dividends and interest, and the processing of corporate action activities in the market.

Dubai Financial Market, the first regional bourse to be converted into a public joint stock company, continues to upgrade the quality of services provided to investors through cooperation with a wide range of world-renowned financial institutions.

Through the signing of the DPA, Deutsche Bank joins three leading financial institutions that have already signed similar agreements with DFM to provide sophisticated depository participant services to local, regional and global investors. – Emirates News Agency, WAM

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