Dubai, April 22 2012: Dubai Financial Market (DFM) today announced that EFG-Hermes Brokerage has been accredited to carry out Margin Trading, in a move that makes it the second DFM brokerage firm accomplishing this significant step following the Arab German International Broker (AGIB). The exchange is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA).
Margin Trading allows brokerage companies to fund a percentage of the market value of securities traded, secured as collateral by the same securities or any other collateral as required by the SCA's license.
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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- Media & Public Relations
Dubai Financial Market
Tel: 04-3055334
Email: afathy@dfm.ae
© Press Release 2012
