HSBC acts as custodian for debut DFM securities lending transaction

HSBC acts as custodian for debut DFM securities lending transaction

HSBC has acted as custodian and agent lender for the first-ever securities lending transaction (SLB) on the Dubai Financial Market (DFM). The transaction was conducted for a large regional asset owner, enabling HSBC, in its role as a prime broker, to borrow DFM-listed equities from the asset owner and provide access to the UAE’s burgeoning equities market for a global institutional investor. “We are pleased to have collaborated with Dubai Clear and to have leveraged our deep local and global market knowledge to achieve this first-of-its-kind international transaction on the DFM,” said Adnan Hussain, global head of Agency Securities Lending and Liquidity Services. “Securities lending activities contribute to a vibrant and robust marketplace, facilitate the efficient functioning of capital markets, and are expected to attract more international investors to the UAE as a result.” Nabeel Albloushi, managing director, head of Markets and Securities Services UAE and Regional Corporate Sales, MENAT, HSBC said the transaction is a further testament to the bank’s commitment to the development of the capital markets in the UAE. DFM said the execution of the first international SLB transaction is the latest step in the continued evolution and expansion of the city’s capital markets. Providing end-to-end, over-the-counter,