HSBC's UAE brokerage arm, HSBC Middle East Securities, has received its final license from Emirates Securities and Commodities Authority to operate as a broker on the UAE's stock exchanges, and will commence trading for institutional investors this month. The company, set up to trade on the Abu Dhabi Securities Market and the Dubai Financial Market, will offer brokerage services to retail investors later this year. HSBC will become the first global bank to trade on the UAE's exchanges directly. HSBC is already a broker-member and sub-custodian of the Dubai International Financial Exchange. It also offers sub-custody services on the ADSM and DFM, as well as nine other regional bourses. __
