ING Joins DIFX As A Broker

by Lorys Charalambous, Tax-News.com, Cyprus

13 February 2007

ING Bank NV, the Netherlands-based global investment bank, has joined the Dubai International Financial Exchange (DIFX) as a broker and is preparing to trade securities on behalf of international and regional clients, the exchange announced last week.

Dariusz Chrzastowski, Global Head of EMEA Equities, ING stated that: “As the range of DIFX listed securities expands, ING looks forward to playing a significant role in active trading. Investors are keen to take advantage of the growing opportunities offered by the region’s international exchange."

“ING is expanding its operations rapidly in the Middle East and trading on the DIFX is central to our plans. These include Equity Markets research as well as Financial Markets and Structured Finance sales and origination.”

The bank has joined the DIFX through its London branch. It is the 14th firm to connect to the DIFX as a Member through an office in Europe and the 19th Member of the DIFX overall.

Per E. Larsson, Chief Executive of the DIFX, observed that: “The DIFX is the gateway to opportunities in the region and we welcome ING as our latest Member. The steady increase in the number of international and regional DIFX Members is further strengthening the exchange’s links with the investor community.”

Hamed Ali, Executive Officer of the DIFX, concluded: “The DIFX is building a sophisticated network of regional and international connections that underpins its stature as the region’s international exchange. These links will enable wholesale and retail investors to easily access DIFX securities.”

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