UAE-based brokerage house, Al Ramz Securities, has been named the recipient of Nasdaq Dubai’s inaugural Retail Broker of the Month Award.

Al Ramz was received the award for handling 75 per cent of the total retail trade done by Nasdaq members for the month of July, a statement from the company said.

A congratulatory message was also displayed at the Nasdaq Tower in New York, US, highlighting the achievement of Al Ramz in full view of the global securities industry, the statement said.

Aside from Nasdaq Dubai, Al Ramz is also a member of the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM). Since market inception, Al Ramz has been consistently ranked among UAE's top brokers.

“This is truly a proud moment for Al Ramz. To be honored in such a way by the second-largest stock exchange by market capitalisation in the world reflects the success of our ongoing efforts to enhance our manpower, streamline our processes, boost our qualifications and reinforce our customer services,” said Mohammad Al Mortada Al Dandashi, partner and managing director of Al Ramz Securities.

“We commend our hard-working team for the exceptional effort they did to accommodate retail trades for July. This is turning out to be another banner period for Al Ramz as we capitalise on brighter market prospects moving towards the last few months of 2012.”

Al Ramz Securities is the first locally-based brokerage company licensed by the Emirates Securities and Commodities Authority (Esca) to provide advisory services for customers.

The Abu Dhabi-based company provides retail and institutional services via branches in Abu Dhabi, Al Ain and Dubai. Al Ramz was recently authorised by Esca to provide brokerage services outside UAE. – TradeArabia News Service