Value of e-trading on Dubai Financial Market approaches AED8 billion in Jan 2006

More than 82,453 trades on about 722 million shares, were traded during the month.

Essa Kazim, Director General of DFM, said: "E-trading is a major priority for Dubai Financial Market. We have taken on the responsibility of spreading awareness about its features and importance of e-trading especially within the investor and broker community. E-trading streamlines the trading process and provides an opportunity to trade from anywhere - from the home, the office and even from abroad."

"The increase in number of brokers who offer e-trading as well as the growth of e-trading numbers are indicators of the significant steps that the market has taken to keep pace with the latest trends in global markets. We would like to stress the importance of efforts by the brokers to promote the e-trading culture amongst investors. More brokers should give it their focused attention. This would contribute towards implementing a strategic vision aimed at meeting the demands of traders. It will also enhance DFM's leading position in advanced electronic services in the region," added Essa Kazim.

Brokers who offer online trading on the DFM include Emirates International Brokerage, Direct Broker for Financial Services, Mashreq Securities, Emaar Financial Services, Shaheen Financial Brokerage, Golden Gate Securities, CBD Financial Services, and Middle East Financial Brokerage.

He concluded: "Most brokers at the DFM are in the final phase of testing their electronic trading platform. They shall be able to offer e-trading services soon and contribute to speed up the trading process. This will enhance DFM's role in the area of e-trading worldwide."