DFM accredits Mena Corp to provide direct market access

Dubai: Dubai Financial Market (DFM) said on Tuesday it has accredited Mena Corp Financial Services to provide Direct Market Access (DMA) for global brokers lifting the number of DMA service providers to 11 brokerage firms.

The exchange is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA), the DFM said in a statement.

DMA permits brokerage companies to mandate a global broker to use its DMA access point to place buy and sell orders as electronic trading via the internet, allowing global brokers to directly trade on the market.