BofA Joins NASDAQ Dubai As Clearer

Bank of America Merrill Lynch has become the first general clearing member (GCM) of NASDAQ Dubai, iStock Analyst reports. The U.S. lender is joining NASDAQ Dubai’s equity derivatives market.

As a clearing member, the bank will clear the trades of other brokers and well as its own, injecting liquidity into the market. The Dubai bourse currently lists equities, equity derivatives, exchange-traded commodities, structured products, Sukuk and conventional bonds.

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