Dubai: Dubai Financial Market (DFM) said on Monday it has accredited Fujairah Shares & Bonds to provide Margin Trading service, lifting the total number of DFM brokerage firms providing this service to 28.
DFM is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA), the exchange said in an emailed statement.
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 licence.
