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National Bank of Fujairah launches electronic trading platform NBFX

In a first-of-its kind, NBFX will enable customers to execute complex FX Non-Deliverable Forwards (NDFs) and FX Time Options, alongside the more traditional FX Spot, FX Swaps and FX Forwards, on a 24/5 basis.

Key features:

  • Fully automated, transparent and competitive prices in FX and Precious Metals.

  • Comprehensive overview and automated digital interface that ensures higher efficiency.

  • View of complete trade and order history using the advanced audit log and a full record of transaction details.

  • NBFX will be available for both conventional and Shariah-compliant banking customers.

National Bank of Fujairah (NBF) PJSC has today launched its electronic trading platform - NBFX. Expanding the bank’s digital offerings, NBFX offers customers a bespoke digital experience to hedge their treasury requirements and is available for both conventional and Shariah-compliant banking customers. The 24/5 availability means that customers can execute transactions during and beyond the bank’s working hours and benefit from liquidity across all time zones.

The new platform acts as an efficient, competitive and user-friendly venue for executing Foreign Exchange and Precious Metal transactions. NBFX provides users with a tailored experience that is based on their needs with instant and easy execution of FX trades, order management and readily available transaction history. Unique to NBFX is the possibility for customers to execute FX Non-Deliverable Forwards (NDFs) and FX Time Options on a 24/5 basis.

Commenting on the launch of NBFX, NBF’s CEO Vince Cook said: “The launch of NBFX further highlights the bank’s commitment to being the best financial partner for customers; this is achieved by combining the latest technology with its in-depth market experience. This unique platform ensures that customers are able to customise it according to their preferences, have access to the most competitive price execution, and tap into valuable data and insights to help guide their decisions. In addition, they have the backing of a team of experts across treasury, trading and structuring to help them navigate market changes and hedge underlying risks. Looking ahead, we have plans to expand the scope of NBFX to cater to customers’ wider requirements across energy, base metals and soft commodities.”

NBFX is designed for existing and prospective customers enabling them to benefit from a simplified and streamlined deal booking process, reducing the need for manual intervention whilst opening up real time competitive FX and Precious Metal prices. By leveraging best practices and multifactor authentication for customer logins, NBFX provides a safe and secure platform for customers to execute transactions.

Developed in response to customers’ needs, this new platform is in line with the bank’s overall strategy of helping its customers leverage new opportunities made possible by evolving financial technology.

About National Bank of Fujairah PJSC:

Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shari’a compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.

NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC, and Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s with a negative outlook; and BBB / A-2 by Standard & Poor’s with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 15 (of which 1 is an electronic banking service unit) across the UAE.

For further information, please contact:

Strategic Marketing and Communications Department

E-mail: CorpComm@nbf.ae

Telephone: +971 4 507 8351 and +971 4 507 8576