First Abu Dhabi Bank (FAB) has chosen Broadridge Financial Solutions to support the build out of its global agency securities finance business.
By leveraging Broadridge’s Securities Finance and Collateral Management (SFCM) solution, FAB will be able to bolster its coverage of global fixed income and equities markets.
The development comes as part of the bank’s drive to expand securities lending in the UAE and wider Middle East.
“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,” said Darren Crowther, head of securities finance and collateral management at Broadridge.
Broadridge’s provision of its SFCM platform — the first AWS SaaS deployment in the region — demonstrates a renewed focus in the Middle East and indicates readiness to support FAB’s strategic goals, the firm said in a statement.
As FAB navigates the evolving landscape of securities borrowing and lending regulations in the region’s markets.
The collaboration is also expected to yield new opportunities and efficiencies for FAB that will benefit clients across the globe – particularly as it navigates the evolving landscape of securities borrowing and lending regulations in the region’s markets.