The international derivatives exchange Eurex has connected Jebel Tariq Trading DMCC to its international liquidity network as the first participant from Dubai. Eurex is the first international exchange with participants that trade directly from the United Arab Emirates. According to Eurex, additional participants are in the process of being connected.
Participants from the United Arab Emirates have access to the entire Eurex product range. Eurex received the corresponding regulatory approval from the Dubai Financial Services Authority at the end of March 2007, and from the Emirates Securities & Commodities Authority in November 2006.
The new access point in Dubai has been up-and-running since beginning of May. Access points offer Eurex member firms high-speed, direct and cost-effective network access to Eurex’s highly liquid trading platform.
Deutsche Börse and Eurex operate 15 access points in major international financial centers around the world: Amsterdam, Chicago, Dubai, Dublin, Frankfurt, Gibraltar, Helsinki, London, Madrid, Milan, New York, Paris, Singapore, Vienna and Zurich.
Michael Peters, member of the Eurex Executive Board, commented: “We are delighted to welcome our first participant from this fast-growing region, which underpins our strategy of expanding into new markets and regions.”
Nick Harrison, co-founder of Jebel Tariq Trading DMCC, said: “Access to the highly liquid Eurex platform opens up new investment and diversification opportunities for us. The fact that Dubai functions as a bridge between Europe and Asia makes it an ideal location.”
