DFM accredits firms for margin trading
Dubai, January 29, 2013
Dubai Financial Market (DFM) said it has accredited Abu Dhabi firms Finance House Securities and Abu Dhabi Financial Services to provide margin trading at the stock exchange.
With this move, the total number of DFM brokerage firms providing this service has risen to five, said a statement from the exchange.
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 Securities and Commodities Authority's (SCA) licence.
The Dubai exchange is currently processing similar applications from other brokerage firms in collaboration with SCA.-TradeArabia News Service