Dubai, 18 August 2016
Dubai Financial Market (DFM) today announced that "Sharjah Islamic Financial Services" has been accredited to provide Margin Trading service, lifting the total number of DFM brokerage firms providing this service to 34 companies.
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. DFM is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA).
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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 media inquiries, please contact:
Atef Fathy
Vice President- Head of Media & Public Relations
Dubai Financial Market
Tel: 04-3055334
Email: afathy@dfm.ae
© Press Release 2016
