ICD’s new offices in the Dubai International Financial Centre set the stage for expanded global MMF trading and risk management in a new era of investing for this booming region. ICD Middle East is a subsidiary of Institutional Cash Distributors Limited.
Dubai is the latest in a series of successes for ICD,the trading and risk management company that specializes in people, products and processes for corporate treasury.
In 2003, ICD launched one of the original MMF trading portals in the United States. In 2005, ICDlaunched the first portal in the European market with the opening of trade desks and sales offices in London under England’s Financial Services Authority by 2010. ICD is the only web-based, cash-trading portal in Canada with securities registrations in Ontario, British Columbia, Quebec and Alberta. Of note, ICD was also first-to-market with thecategory-defining money market fund exposure analytics application, Transparency Plus® in July 2010.
ICD’s new strategic UAE base is managed by ICD’s EVP, John Bennie, who most recently led ICD’sEuropean business development and the company’s Global Trade Desk inLondon.
Ed Baldry, ICD’s CEO Europe commented, “John Bennie has developed excellent relationships in the Middle East market place over recent years. We are excited about his complete commitment to the region,” continued Baldry, “This is where we expect great future growth in money market funds and ICD is focused on facilitating the expansion.”
ICD’s dedication to the region was rewarded with the establishment of its first Middle Eastern account. “I have had the pleasure of dealing with ICD for many years in Europe and now look forward to continuing the relationship with ICD from Dubai. I have found the ICD system delivers outstanding operational efficiency and their service/support is second to none,” stated Matt Norris, Treasury Manager of Petrofac, Ltd.
ICD’s Middle Eastern debut nearly coincides with the November 2011 launch of its next-generation ICD Portal with Transparency Plus. ICD Portal delivers end-to-end investing ‘best practices’ like portfolio diversification, exposure analytics, compliance management, optimization trading and dynamic reporting.
“The Internet makes portal trading possible and we can put the business world at your fingertips,” remarked ICD’s Bennie, “However, meaningful relationships are made face-to-face and ICD is offering its dedicated treasury resources in creating a respected presence in one of the economic centers of the Middle East.”
Thursday, December 15- 2011 @ 16:05 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.