Dubai Financial Market accredits 'Abu Dhabi Financial Services' and 'Finance House Securities' for Margin Trading
- United Arab Emirates: Tuesday, January 29 - 2013 at 16:50
- PRESS RELEASE
Dubai Financial Market (DFM) announced that Abu Dhabi Financial Services and Finance House Securities have been accredited to provide Margin Trading, lifting the total number of DFM brokerage firms providing this service to 5.
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 SCA's license.
Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body.
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, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000.
Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20% of its paid-up capital of Dhs8bn, DFM became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80% of DFM Company through Borse Dubai Limited.
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