The Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) will both extend its trading hours by one hour starting 3 October 2021, the exchanges said in separate statements on Saturday.

The new initiative is expected to attract more investors as well as increase liquidity in the market.

Hassan Al Serkal, CEO of the DFM said: “The new initiative will further strengthen the leading position of the DFM as a main gateway for investments and attract wider and more diversified categories of investors, especially the international investors who are constantly showing great interest in our market."

“The trading hours’ extension will provide investors with more flexibility and larger time span to accomplish their investment activities on the market,” he added.

According to a statement from the exchange, the DFM has an investor base covering 207 countries. International investors account for 48.2 percent of its trading activities.

The ADX said it will reduce trading fee to 0.025 percent from 0.05 percent starting from September 1, the bourse's second commission cut this year. Its trading hours will also be extended by one hour starting October 3, with the market opening at 10 a.m. and closing at 3 p.m.

(Writing by Seban Scaria; editing by Daniel Luiz)

seban.scaria@refinitiv.com

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