Standard Chartered Wins "Best FX Services in the Middle East Award" from emeafinance
Rising volumes, new products
UAE – 03 October, 2011 -Standard Chartered has won the 'Best FX Services in the Middle East Award' from emeafinance, an accolade that reflects the Bank's increased turnover in GCC foreign exchange volumes and continued innovation in the market.
Standard Chartered operates the largest trading floor in the region with over 200 seats in its regional headquarters in the Dubai International Financial Centre. Against a backdrop of challenging market conditions, the Bank has continuously quoted GCC FX prices through the inter-bank market, broker market, the E-platform and to all sales clients.
Nafees Akbarali, Regional Head of Fixed Income, Currencies and Commodities and Global Head of G10 Rates Trading, Standard Chartered said:
"We have continued to support our clients by structuring tailor-made offerings across the various asset classes, and the trend of the Bank increasing monthly average turnover and growing our market share has continued through the years. With deep market understanding and client relationships, we are ideally positioned to help our clients seize the opportunities available in this market."
Standard Chartered has been operating in the region for over 90 years and is a key market maker and liquidity provider in the Middle East foreign exchange markets. The Bank focuses on innovative FX solutions and has established long term partnerships with clients.
Standard Chartered is the first bank with a Shariah-Compliant online FX Offering, the first bank to introduce auto-quoting for GCC Currencies 24 hours a day, the first international bank to quote GCC FX transactions with tenors of over 10 years, a leading price maker in the GCC currency options market and the first bank to offer cross-currency and basis swaps in the bulk of the Middle East; the first to trade long-tenor GCC cross-currency swaps (CCS) and the bank behind the biggest CCS completed in the market.
In addition, the Bank provides training and schooling programmes for university students who are willing to venture into the Capital Markets industry.
For further information please contact:
Haya Mashhood
Head, Corporate Affairs
Standard Chartered Bank
Qatar
Tel: +974 4248450
Fax: +974 4248111
Mobile: +974 5847178
Email: Haya.Mashhood@sc.com
Standard Chartered – leading the way in Asia, Africa and the Middle East
Standard Chartered PLC is a leading international bank, listed on the London and Hong Kong stock exchanges. It has operated for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years.
With 1700 branches and outlets in more than 70 markets, Standard Chartered offers exciting and challenging international career opportunities for more than 75,000 staff. The bank is committed to building a sustainable business over the long term and aims for the highest standards of corporate governance, social responsibility, environmental protection and employee diversity. This heritage and these values are expressed in its brand promise, 'Here for good'.
For more information on Standard Chartered, please visit www.standardchartered.com
About the Clinton Global Initiative
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world's most pressing challenges. Since 2005, CGI Annual Meetings have brought together nearly 150 current and former heads of state, 18 Nobel Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. These CGI members have made nearly 2,000 commitments, which have already improved the lives of 300 million people in more than 180 countries. When fully funded and implemented, these commitments will be valued in excess of $63 billion. The 2011 Annual Meeting will take place Sept. 20-22 in New York City.
This year, CGI also convened CGI America, a meeting focused on developing ideas for driving economic growth in the United States. The CGI community also includes CGI U, which hosts an annual meeting for undergraduate and graduate students, and CGI Lead, which engages a select group of young CGI members for leadership development and collective commitment-making. For more information, visit www.clintonglobalinitiative.org.