Dubai stock exchange to reopen trading floor after 3-month closure

Investors encouraged to continue trading online despite reopening

  
Image used for illustrative purpose. Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017.

Image used for illustrative purpose. Traders monitor stock information at Dubai Financial Market, in Dubai, United Arab Emirates, June 5, 2017.

REUTERS/Stringer

Dubai’s stock exchange will be reopening its doors to investors on Tuesday after more than three months of hiatus.

The Dubai Financial Market (DFM) said on Sunday that its trading floor, as well as the customer affairs counters, will be open again to serve customers, along with the strict implementation of precautionary measures to avoid the spread of coronavirus infections.

According to Hassan Al Serkal, chief operating officer (COO) and head of operations division of DFM, the safety protocols include the use of thermal measuring devices at the entrance of the trading floor, social distancing and limiting the number of visitors at the customer affairs counters, among others.

Investors, however, are highly encouraged to continue trading remotely and come to the stock exchange only when it’s really necessary.

The stock exchange shut its doors temporarily in mid-March, or at the start of one of the world’s strictest lockdowns to contain the pandemic. Despite the closure, trading activities continued remotely through the DFM’s online and smart platforms, as well as the authorised brokerage firms.

“We highly encourage market participants to continue utilising DFM’s electronic and smart platform with the same pace witnessed during the past three months. The reopening shouldn’t substitute the success achieved in terms of accomplishing transactions through DFM smart platforms,” said Al Serkal.

The DFM resumed work on the trading floor early last month, allowing employees and brokers to return to their workplace.

(Writing by Cleofe Maceda; editing by Mily Chakrabarty)

Cleofe.maceda@refinitiv.com

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