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Dubai Financial Market and Abu Dhabi Securities Market online trading with Habib Bank AG ZurichHabib Bank AG Zurich (HBZ), one of the leading international banks operating in the United Arab Emirates, today enhanced its online trading platform to include equities listed on Dubai Financial Market and Abu Dhabi Securities Market.
HBZtrade now allows the Bank's clients to trade local stocks online in addition to its NYSE and NASDAQ offering, through its highly secure HBZweb and HBZmobile platforms. HBZtrade can be accessed by logging on to the website. Through HBZweb and HBZmobile (PDA, Smart phones, 3G, GPRS), clients have access to direct online trading of local equities that are available to foreign investors. The service includes SMS order confirmation, settlement, custody, exchange information and quotes for the UAE and US markets. Reza Habib, joint president Habib Bank AG Zurich says, 'HBZ remains committed to the UAE. We have been operating here for 35 years and the new online trading platform is yet another sign of this commitment by making the local markets more accessible to retail investors, at a very competitive cost. 'With the prolific growth of regional markets during the past 2 years, we realised that the retail segment faced considerable difficulty in accessing UAE shares. We commenced local execution services in mid 2004 and provided our clients an easy trading solution which eliminates the need to open and constantly fund external brokerage accounts. 'In fact, this solution is the same for accessing global Capital Market instruments through HBZ. Our clients can trade equity as well as fixed income instruments and hybrids from North America to Asia Pacific, without having to open any external accounts.' HBZ's proprietary FIX engine is part of the award winning hPLUSTM banking solution which includes unique security and compliance features required to support this mission critical environment. One such feature is HBZcram, a challenge response authentication mechanism. HBZcram is a unique security (1st of its kind in the world) using a combination of a secure web/mobile login, password and a JAVATM enabled mobile device to generate an authentication code, thereby enhancing online security to unprecedented levels. Security is further enhanced by customised SMS alerts to clients' GSM phones regardless of where they are in the world. The Bank currently offers online variants of its global service for US and UAE equities. More markets are scheduled to be included on the HBZtrade platform in the near future.
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