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Leading regional brokerage firm expands access to a fourteenth market, offering institutional investors easy access to a highly sought-after frontier market via EFG Hermes Abwab
Cairo, Egypt -- EFG Hermes, the leading investment bank in the Arab world, is giving institutional investors unique access to the Iraq Stock Exchange (ISX) through EFG Hermes Abwab, the first swap product in Iraq.
With the addition of the Iraqi market to its footprint through the ISX swaps, EFG Hermes Securities Brokerage now offers clients access to a total of 14 markets.
Securities Brokerage first launched Abwab in the United Arab Emirates in December 2007; the product is now available in nine markets, including Iraq.
"We have seen a high level of demand for access to this new frontier market with many believing that Iraq, while still in its infancy, offers prospects similar to those in Russia or Turkey 15 years ago," said Mohammed Ebeid, Co-Head of Securities Brokerage at EFG Hermes. "In view of our strategy of continually expanding our product offering to better serve the needs of our clients, we have rolled out this tailored ISX swap product through EFG Hermes Abwab effective immediately."
By accessing the Iraqi market through swaps -- which are US-dollar denominated and exactly replicate the performance of the underlying Iraqi security -- institutions have access to an exciting new market through the leading brokerage house in the region, which has a proven commitment to product innovation and to the highest standards of service and governance.
"Trading through EFG Hermes Abwab will provide access for clients who face currency or mandate restrictions or whose investment policies mean they cannot use local custody and settlement procedures," Ebeid noted.
EFG Hermes also offers international institutional investors synthetic market access to Saudi Arabia's stock market through participation notes traded on the Irish Stock Exchange.
"EFG Hermes Securities Brokerage prides itself on being responsive in an industry -- and a region -- that changes rapidly. We will continue to offer our clients superlative service, unrivalled market access and tailored products, all supported by the most relevant and comprehensive research offering," Ebeid concluded.
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About EFG Hermes Securities Brokerage
EFG Hermes Securities Brokerage enjoys direct presence in six countries and five indirect throughout the Middle East and North Africa. The firm's direct presence in Egypt, Jordan, Kuwait, Oman, Saudi Arabia, and the United Arab Emirates allows it to provide an unparalleled diversity of products and services to more than 5,400 institutional and high-net-worth clients from around the world as well as 52,000 individual clients.
The group has consistently maintained its position as the highest-ranking securities brokerage in Egypt by market volume. In the UAE, it has consistently ranked in the top-two (number one in 2008, 2009, 2010 and 2011) on the DFM and ADX and has maintained a leading position on the NASDAQ Dubai. EFG Hermes Securities Brokerage has been one of the leading brokerage in Kuwait since 2009.
About EFG Hermes
Established in 1984, EFG Hermes is the leading investment bank in the Arab world. The Firm specializes in Securities Brokerage, Investment Banking, Asset Management, Private Equity and Research. EFG Hermes is listed on both the Egyptian and London stock exchanges. The recent acquisition of a 65% stake in Credit Libanais marks the first step towards EFG Hermes's transformation into a universal bank and will enable it to rapidly expand into retail and commercial banking.
Through its operations in Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria and the UAE, with over 1,000 employees of 25 nationalities, EFG Hermes serves a considerable and diversified client base from the Middle East and North Africa to Europe, Africa and the United States. Our clients include governments, corporations, financial institutions, high net worth clients and individual customers.
For further information about EFG Hermes, please visit [You must be registered and logged in to see this link.]
Cairo, Egypt -- EFG Hermes, the leading investment bank in the Arab world, is giving institutional investors unique access to the Iraq Stock Exchange (ISX) through EFG Hermes Abwab, the first swap product in Iraq.
With the addition of the Iraqi market to its footprint through the ISX swaps, EFG Hermes Securities Brokerage now offers clients access to a total of 14 markets.
Securities Brokerage first launched Abwab in the United Arab Emirates in December 2007; the product is now available in nine markets, including Iraq.
"We have seen a high level of demand for access to this new frontier market with many believing that Iraq, while still in its infancy, offers prospects similar to those in Russia or Turkey 15 years ago," said Mohammed Ebeid, Co-Head of Securities Brokerage at EFG Hermes. "In view of our strategy of continually expanding our product offering to better serve the needs of our clients, we have rolled out this tailored ISX swap product through EFG Hermes Abwab effective immediately."
By accessing the Iraqi market through swaps -- which are US-dollar denominated and exactly replicate the performance of the underlying Iraqi security -- institutions have access to an exciting new market through the leading brokerage house in the region, which has a proven commitment to product innovation and to the highest standards of service and governance.
"Trading through EFG Hermes Abwab will provide access for clients who face currency or mandate restrictions or whose investment policies mean they cannot use local custody and settlement procedures," Ebeid noted.
EFG Hermes also offers international institutional investors synthetic market access to Saudi Arabia's stock market through participation notes traded on the Irish Stock Exchange.
"EFG Hermes Securities Brokerage prides itself on being responsive in an industry -- and a region -- that changes rapidly. We will continue to offer our clients superlative service, unrivalled market access and tailored products, all supported by the most relevant and comprehensive research offering," Ebeid concluded.
-Ends-
About EFG Hermes Securities Brokerage
EFG Hermes Securities Brokerage enjoys direct presence in six countries and five indirect throughout the Middle East and North Africa. The firm's direct presence in Egypt, Jordan, Kuwait, Oman, Saudi Arabia, and the United Arab Emirates allows it to provide an unparalleled diversity of products and services to more than 5,400 institutional and high-net-worth clients from around the world as well as 52,000 individual clients.
The group has consistently maintained its position as the highest-ranking securities brokerage in Egypt by market volume. In the UAE, it has consistently ranked in the top-two (number one in 2008, 2009, 2010 and 2011) on the DFM and ADX and has maintained a leading position on the NASDAQ Dubai. EFG Hermes Securities Brokerage has been one of the leading brokerage in Kuwait since 2009.
About EFG Hermes
Established in 1984, EFG Hermes is the leading investment bank in the Arab world. The Firm specializes in Securities Brokerage, Investment Banking, Asset Management, Private Equity and Research. EFG Hermes is listed on both the Egyptian and London stock exchanges. The recent acquisition of a 65% stake in Credit Libanais marks the first step towards EFG Hermes's transformation into a universal bank and will enable it to rapidly expand into retail and commercial banking.
Through its operations in Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria and the UAE, with over 1,000 employees of 25 nationalities, EFG Hermes serves a considerable and diversified client base from the Middle East and North Africa to Europe, Africa and the United States. Our clients include governments, corporations, financial institutions, high net worth clients and individual customers.
For further information about EFG Hermes, please visit [You must be registered and logged in to see this link.]
