Media ININ Economy We Trust
22-01-2019 Media in \Dubai
Dubai Financial Market (DFM) today announced that the Privatization Account has recently gained momentum amid increased activity by Al-Arqam Securities, which has benefited from the availability of this service to carry out transactions for its clients from international funds.
Through this sophisticated and effective mechanism, “Figures Securities” during a number of trading sessions for the month of January, the implementation of transactions exceeded the value of 20 million dirhams for a global investment institution with the allocation of proceeds of transactions to several sub-investment funds during the allocation session.
DFM launched this service in early 2018 as a first step among the regional capital markets as part of its continuous efforts to diversify its services and products according to international best practices by introducing mechanisms that support the activity of all categories of customers. This mechanism allows the brokerage companies to open a unified allocation account at the clearing house through which the sale and purchase transactions of securities are carried out on behalf of the company on behalf of their customers. These transactions are allocated to customer accounts during the allocation period 45 minutes from the end of the trading session.
To date, three brokerage firms approved by the DFM have been licensed to provide a “customization” service to their customers. The market is currently studying applications from other brokerage firms seeking similar licenses.
The “Account of Privatization Account” activity is particularly important for brokerage firms, especially those offering services to international investment institutions, providing an innovative and transparent solution that meets the requirements of international investment funds, paving the way for the promotion of its activity in the market.
It is worth mentioning that “Emirates Securities Brokerage Company” is a member of the Investment Banking Group, active in emerging markets through the trading of a wide range of products, and brings together the best practices from the markets in which it operates.
