First Abu Dhabi Bank taps Broadridge to build out securities finance business
First Abu Dhabi Bank (FAB) has selected Broadridge Financial Solutions to drive the development of its global agency securities finance business across the Middle East.
FAB picks Broadridge SFCM solution
The business, which provides brokerage and execution services, will utilise Broadridge’s Securities Finance and Collateral Management (SFCM) solution.
Broadridge says its tech will enable FAB to “drive expansion of securities lending in the UAE and wider Middle East” by enhancing the bank’s coverage of fixed income and equities markets.
The SFCM solution, which supports trading across securities lending, repo and collateral management, will be deployed by FAB via Software-as-a-Service and hosted by AWS, marking what Broadridge claims is a regional first.
The solution incorporates both Broadridge’s flagship Full Service Mainline model and multi-asset post-trade offering FastStart, which launched in 2021.
FAB’s push to expand its securities services across the region include the launch of its MENA Securities Services for Asset Managers (MENASSA) offering in February.
The post-trade platform provides global custody, performance and risk management, transfer agency, fund accounting and middle office services for asset and wealth managers, with supporting client services based in the UAE, Saudi Arabia, Bahrain, Kuwait and Oman.
