ICD Middle East (ICD), a subsidiary of UK-based Institutional Cash Distributors, has launched its money market fund trading and risk management operations in the Middle East from its new office in Dubai.

A premier money market fund trading (MMF) and risk management portal, ICD said its Dubai launch has set the stage for expanded global operations in a new era of investing for this booming region.

ICD is the only web-based, cash-trading portal in Canada with securities registrations in Ontario, British Columbia, Quebec and Alberta, said executive vice president, John Bennie, who is managing the office at the Dubai International Financial Centre.

Bennie was earlier incharge of ICD’s European business development and the company’s global trade desk in London.

Commenting on the launch, Ed Baldry, ICD CEO Europe said, “Bennie has developed excellent relationships in the Middle East market place over recent years. We are excited about his complete commitment to the region.”

Dubai is the latest in a series of successes for ICD, a specialist in people, products and processes for corporate treasury, he remraked.

'This is where we expect great future growth in money market funds and ICD is focused on facilitating the expansion,'  Baldry added.

In 2003, ICD had launched one of the original MMF trading portals in the US. Two years later, the first portal in the European market was unveiled.

This was followed by the opening of its trade desks and sales offices in London under England’s Financial Services Authority in 2010.

ICD’s regional debut nearly coincides with the November 2011 launch of its next-generation ICD Portal with Transparency Plus, said Baldry.

ICD portal delivers end-to-end investing ‘best practices’ like portfolio diversification, exposure analytics, compliance management, optimization trading and dynamic reporting, he added.-TradeArabia News Service