Expansion of securities finance within the UAE and broader Middle East
NEW YORK and ABU DHABI, UAE and LONDON, Dec. 11, 2024 /PRNewswire/ -- To drive expansion of Securities Lending in the UAE and wider Middle East, First Abu Dhabi Bank (FAB) has chosen global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE: BR), to support the build out of its global agency securities finance business. This collaboration marks a significant milestone in the expansion of securities finance within the UAE and the broader Middle East region. By leveraging Broadridge's advanced Securities Finance and Collateral Management (SFCM) solution, FAB is well-positioned to enhance its coverage of global fixed income and equities markets.
"The commitment of both FAB and Broadridge to bring innovative products and solutions to market and to simplifying and innovating trading," said Darren Crowther, Head of Securities Finance and Collateral Management, Broadridge. "This collaboration caters for the growing demand for securities lending and borrowing within the Middle East and is aligned both with local regulatory needs and with international best practices."
Broadridge's provision of an agile and robust SFCM platform — the first AWS SaaS deployment in the region — highlights a renewed focus on in the Middle East and indicates readiness to support FAB's strategic goals. As FAB navigates the evolving landscape of securities borrowing and lending regulations in the region's markets, this collaboration is expected to yield new opportunities and efficiencies that will benefit clients across the globe.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information, please visit www.broadridge.com.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Gregg Rosenberg
Global Head of Corporate Communications
Gregg.Rosenberg@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.
