Dubai Financial Market (DFM) posted a 109 per cent jump in net profit to Dh186.2 million during the first nine months of 2023, driven by an evident increase in the number of trades, overall trade value, and an influx of new investors.
DFM’s total revenue rose by 48 per cent to Dh351.8 million for the period ended September 30, the bourse regulator reported. This was partly because the number of trades increased 37 per cent to 1.43 million trades. Also, 35,357 new investors were added to its platform, and institutional investors accounted for 56 per cent of the trading value.
Concurrently, the total trading value rose to Dh78 billion, recording an increase of 13 per cent over the same period last year. In light of bullish trading during this period, the DFM General Index also rose by 25 per cent and closing at 4,136.58 points on September 30.
"With a significant increase in our trade numbers, expanding sector diversity, and a surge in new investors, DFM is well positioned to continue driving growth and innovation in the global financial landscape," said Hamed Ali, CEO of DFM and Nasdaq Dubai.