Dubai, Asharq Al-Awsat- The Dubai International Financial Exchange (DIFX) has accepted Citigroup Global Markets Ltd as a member firm able to trade securities.
Citigroup is the fifth firm to become a member of the DIFX since the exchange opened for business on September 26, 2005. It has joined as an individual clearing member and a trading member.
The DIFX aims to become the leading international financial exchange between Western Europe and East Asia. It expects to attract large numbers of international and regional investment banks and brokers as members.
Sajjad Razvi, Citigroup Country Officer and Managing Director of Corporate and Investment Banking in the UAE, said:
"We are delighted to become a member of DIFX. We view the region as key to the continued growth of our EMEA Corporate and Investment Banking franchise and the new DIFX licence will strengthen this position, making the UAE a major hub from which to fulfil our regional business potential."