Mubasher unit tops DFM trading activity
Dubai, February 1, 2011
Mubasher Financial Services said its Direct Broker for Financial Services (DBFS) unit became the top broker at Dubai Financial Market (DFM) for 2010, with a total turnover of over Dh9.6 billion ($2.61 billion).
A unit of National Technology Group, Mubasher said the trading volumes soared to more than 5 billion shares, thereby accounting for almost seven per cent of total value of trade on the DFM.
The introduction of innovative value-added services has been one of the key factors that has enabled Mubasher DBFS to maintain its reputation as the top-performing broker at DFM, said a top official.
'One of its key innovations is the Mubasher Blackberry application that allows users to conduct market activities anywhere in the world. The new Blackberry service provides access to DFM, Abu Dhabi Securities Exchange (ADX) and Nasdaq Dubai,' said Ibrahim Abu-Gharbieh, the general manager of Mubasher DBFS.
Mubasher DBFS, which offers a range of services for every segment of financial market, provides direct market access platform to all Gulf, Middle East and US markets through one counter party contract in association with their parent investment bank in Bahrain.
According to Abu-Gharbieh, the Mubasher DBFS is also among the fastest growing brokers at the ADX.
'We saw a significant increase in our business inspite of drastic changes in the global economic environment in the last two years, which reflects the confidence our customers pose in us,' he added.-TradeArabia News Service