Dubai: The Dubai Financial Market (DFM) trade count today witnessed an increase of 161% on the first day of implementation of the minimum trading commission cancellation. Total number of trade count on today’s trading session reached to 6739 transactions, the highest level of daily trade count since the beginning of this year, compared to 2579 transactions on Tuesday.
Trade count of today’s session has also jumped 146% compared to its 2740 average year to date.
Additionally, the DFM General Index gained 13.6 points (0.50%) during today’s session taking its 2021 gains to 17%.
The DFM decision to waive minimum trading commission is part of its numerous initiatives aimed at promoting retail investors’ participation in the market and enabling them to avail its lucrative investment opportunities that include a diversified range of asset classes and financial products.
The immediate jump in trade count underlines that investors targeted by this initiative recognize its importance in reducing the transaction cost and consequently maximizes the potential returns.
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 and became the first Islamic Shari’a-compliant exchange globally since 2007. 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 and its shares were listed on 7 March 2007 with the trading symbol (DFM). Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae
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© Press Release 2021