DFM accredits "Mena Corp Financial Services" for Margin Trading
Dubai, October 1st 2013: Dubai Financial Market (DFM) today announced that “Mena Corp Financial Services” has been accredited to provide Margin Trading, lifting the total number of DFM brokerage firms providing this service to 8 companies, 5 of them have been accredited since the beginning of this year. The exchange is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA).
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.
Margin Trading service providers on DFM:
|1||EFG-HERMES UAE BROKERAGE|
|2||Al Ramz Securities|
|3||Direct Broker For Financial Services|
|5||Finance House Securities Company|
|6||Al Ansari Financial Services|
|8||Mena Corp Financial Services|
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