Union Coop releases the instant electronic share trading update

Retail Pioneer's Online trading platform accounted for 5,760 transactions worth AED 204 Million in 5 months

  
Mr Majid-Al-Shamsi

Mr Majid-Al-Shamsi

Dubai, UAE: Union Coop, the largest Consumer Cooperative in the UAE revealed that the total transactions through its electronic ’Share Trading’ platform accounted for AED204,302 Million since the platform’s launch 5 months ago on May 22nd till the beginning of November 2019.

Commenting on this achievement, the Chairman of Union Coop ‘H.E. Majid Hamad Rahma Al Shamsi’ said: “Since the launch of the Electronic Share Trading platform, it has offered total freedom to Shareholders to electronically trading their shares in a smooth, efficient and secure environment.”

Al Shamsi reveals: “The number of shares traded was 3,505 Million at an average of 32,155 transacted shares per day. The number of registered shareholders in the electronic trading platform being 4,133.”

Talking about the new ‘update’ and its crucial role Al Shamsi said: “Union Coop has released a new update to the electronic share trading platform that follows the best ethical practices to preserve the shareholder rights and maintain transparency of transactions. This latest update offers ‘Instant Electronic Trading’ feature as of November 10, 2019, which allows shareholders to trade their shares on real time basis during the official working days from 9:00 AM to 2:00 PM, and the adoption of AED 0.10 and its multiples to change the price of the shares during the trading session. In addition to that, the shareholder is entitled to sell maximum 20,000 shares during the day at the rate of one daily application, while the shareholder is entitled to apply open numbers of buying orders.”

He also pointed out that: “Union Coop changed the minimum purchase limit of shares to 50 instead of 100, to motivate all UAE citizens to invest in this vital sector.”

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases