Seminar to raise awareness about short-selling in Fujairah

FUJAIRAH, 18th July, 2017 (WAM) -- A seminar on technical short-selling was orgnanised yesterday by the Fujairah Chamber of Commerce and Industry in collaboration with the Abu Dhabi Securities Exchange, ADX.

"The function is part of the services provided by the emirate to businesses and investors working in Fujairah and it featured sufficient information on the volume of trading in UAE stock markets and the basics of technical short-selling," said Sultan Obaid, the Director General of the Fujairah Chamber. The workshop was addressed by a number of financial experts and ADX representatives.

Short selling is a concept of trading that allows a trader or investor to borrow a stock from the broker and sell it with the intent of buying it back at a lower price and returning the stock to the broker. The aim is to gain profits from the price difference if the stock value goes down and there is a growing consensus that introduction of short-selling should enhance investors' confidence in the UAE market. ADX has already started the technical short selling service by conducting meetings with brokerage companies in Abu Dhabi and Dubai.