DFM achieves an impressive leap in E-Trading during 2009 |
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Electronic trade constitutes two thirds of the Exchange's activity with 67.4% of buy trades and 70.7% of sell trades
Dubai, March 14th 2010: Dubai Financial Market (DFM) announced today that its online trade service (E-Trading) registered an impressive growth in 2009, as it continues to gain momentum amongst investors and brokers. E-trading accounted for over two thirds of trading activity in 2009 compared to almost half of the exchange's trading in 2008, according to DFM statistics.
E-Trading buy trades accounted for 67.4% of the total buy value in 2009 compared to 49.8% in 2008, while electronic sell trades accounted for 70.7% of the total value in 2009 compared to 53.2% In 2008. The total value of electronic buy trades reached AED 117.06 billion in 2009, while sell trades value reached AED 122.6 Billion. DFM's total trading value stood at AED 173.5 Billion in 2009.
The top five active brokerage firms utilizing E-Trading in 2009 include: Direct Broker for Financial Services (AED 17.2 Billion), EFG-HERMES Brokerage (AED 14.9 Billion), MASHREQ Securities (AED 12.9 Billion), Abu Dhabi Financial Services (AED 11.9 Billion) and Islamic Financial Services (AED 11.4 Billion).
Hassan Abdulrahman Al Serkal, Chief Operations Officer, Dubai Financial Market said: "We are delighted to announce these encouraging statistics which indicates the evolving shift towards electronic trading as an effective and reliable tool for investors and brokers. DFM has always been committed to encouraging market participants to shift to E-Trading by providing the necessary technical support to encourage brokerage firms to expand and optimize these tools".
E-Trading on DFM 2008-2009
2008 | 2009 | |||
Value in AED (Billion) | % | Value in AED (Billion) | % | |
Buy Value | 152.03 | %49.8 | 117.06 | %67.4 |
Sell Value | 162.2 | %53.1 | 122.6 | %70.7 |
Total Trading Value | 305.2 | 173.5 |
Top 5 E-Trading Brokers 2009
Rank | Company Name | Total E-Trades Value 2009( AED Billion) |
1 | DIRECT BROKER FOR FINANCIAL SERVICES | 17,2 |
2 | EFG-HERMES BROKERAGE | 14,9 |
3 | MASHREQ SECURITIES | 12,9 |
4 | ABU DHABI FINANCIAL SERVICES | 11,9 |
5 | ISLAMIC FINANCIAL SERVICES | 11,4 |
-Ends-
About Dubai Financial Market:
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 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae
For further information, please contact:
Atef Fathy
Vice President - Public Relations
Dubai Financial Market
Tel: +971 (4) 3055334
Email: afathy@dfm.ae
© Press Release 2010
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