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August 18, 2016 | 14:50 | Dubai
Dubai Financial Market (DFM) has announced that Sharjah Islamic Financial Services has been accredited to provide Margin Trading service, lifting the total number of DFM brokerage firms providing this service to 34 companies.
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 license. DFM is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA). With this, the total number of margin trading service providers on DFM has gone up to 34.