The Dubai Financial Market, or DFM, on Sunday announced that Al Jazeera Financial Services, Awraq Islamic for Shares and Bonds, Al Dar Shares and Bonds and Daman Securities have been accredited to provide margin trading, lifting the total number of DFM brokerage firms providing this service to 16 companies.
Since its introduction in 2012, the value of margin trading on the DFM is amounted to Dh48.5 billion, equivalent to 8.5 per cent of total trading value.
Margin trading permits brokerage companies to fund a percentage of the market value of securities traded, and secure as collateral for the same securities or any other collateral as required by the Securities and Commodities Authority’s licence. DFM is currently processing similar applications from other brokerage firms in collaboration with the SCA.
EFG-Hermes UAE Brokerage, Al Ramz Securities, Direct Broker for Financial Services, NBAD Securities, Finance House Securities Company, Al Ansari Financial Services, ADIB Securities, Mena Corp Financial Services, Vision Capital Brokerage Company, Al Dhabi Brokerage, Securities & Investment Company UAE and Naeem Shares and Bonds are the other companies that provide margin trading on the DFM.
The DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local governments and public institutions in the country.
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Local business2 months ago