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Dubai, 11 January 2010 - SHUAA Capital psc (“SHUAA”), the region’s leading financial services institution, today announces that SHUAA Securities, its brokerage division, was the second largest brokerage company in the UAE by trading value in 2009 according to official data from the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX).
Over the course of the year, SHUAA Securities had a 5.27% market share (as compared to 4.41% in 2008), fractionally behind the market leader which had 5.87%. SHUAA Securities executed AED 25.6 billion worth of trades on the DFM and ADX combined.
Mohammed Ali Yasin, Chief Executive Officer of SHUAA Securities, said: “SHUAA Securities has been steadily increasing its market share in the UAE over the course of the year which was one of the toughest that the global financial markets had experienced in the last decade. We attribute this success to our increasingly comprehensive brokerage services, a flight to quality by our customer base, our deepening presence across regional markets and an outstanding team effort across our operations. This year we extended our reach into Jordan and this, coupled with our continued efforts in the UAE and direct presence and services in Egypt and Saudi Arabia, makes us one of the most established brokers across the entire region.”
In 2009 SHUAA Securities launched an advanced online investor trading portal, the first of its kind in the region. The portal acts as a gateway to access our entire suite of Advanced Brokerage Solutions (ABSTM) comprising online trading, voice recognition trading, an advanced research portal and voice recognition price inquiry technology.”
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