KAS BANK is a European bank providing a wide range of securities and management information services. Its core activities are: Global Custody, Clearing and Settlement for Institutional Investors and Financial Institutions
KAS BANK, which will celebrate its 200 years anniversary on March 10 this year, is the 10th firm to become a Member of the DIFX since the exchange opened for business on September 26, 2005. It is the first Member that is based in continental Europe.
Steffen Schubert, Chief Executive of the DIFX, said: “We welcome KAS BANK as it joins the growing list of companies that have become Members of the DIFX. Its participation is further recognition that the DIFX is seen as key to gaining access to the large pool of liquidity available in the region.”
Albert Röell, Chairman of the Board of Managing Directors at KAS BANK commented: “We are delighted to become the first bank to offer clearing services to other trading Members of the exchange. We look forward to providing a range of services to banks and brokers, whether they are based in the Middle East, Europe, or elsewhere, to facilitate them trading on the DIFX. We have been successful in offering our services in the UAE for over 20 years now and consequently we expect to be able to support many banks and brokers with Sub-Custody services for products traded on this exchange as well.
Nasser Alshaali, Chief Operations Officer of the DIFX, commented: “The arrival of KAS BANK is a reflection of the increasing confidence in the exchange as the number of participants grows. This will help to develop growing trading opportunities. We are also very pleased with the custodial services KAS BANK will provide to the DIFX into Europe to facilitate dual listings.”
The DIFX expects to attract large numbers of international and regional investment banks and brokers as Members.