Dubai
The Dubai Financial Market said on Wednesday it has introduced a new mechanism that enables brokers to execute transactions through a combined account and allocate the proceedings into clients accounts within 45 minutes from the end of the trading session.
The mechanism called as the “Allocation Account” is part of the bourse’s continuous efforts to create the mechanisms and services that support the trading activity of various market participant.
Allocation Account is exclusively used for Delivery versus Payment (DvP) clients and any other cases accepted by the DFM and approved by the Securities and Commodities Authority (SCA).
“Allocation Account has created a proficient and transparent electronic tool for trading activities of international funds and will further promote their participation on the market,” Essa Kazim, Chairman of DFM said in a statement.
