Offers a variety of services to investors
21 companies provide “derivative trading and clearing” services in “Dubai Financial” for the first time
The Dubai Financial Market received a number of inquiries about how to grant these licenses.
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Hamed Ali: “Enable dealers to seize the opportunities offered by the market through diversified financial products and asset classes.”
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The Dubai Financial Market announced yesterday that it had obtained the approval of the Securities and Commodities Authority to allow brokerage firms operating in the Dubai Gold and Commodities Exchange to exercise the functions of a derivatives member in the Dubai Financial Market, which allows these companies to provide a variety of services in the Dubai Financial Market for the first time. Once.
This step meets the growing interest on the part of brokerage firms approved by the Securities and Commodities Authority, as intermediaries in the Dubai Gold and Commodities Exchange, which number about 21, to provide their services in the Dubai Financial Market.
The market has received a number of inquiries about how to grant these licenses.
Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai, welcomed the issuance of the Chairman of the Board of Directors of the Securities and Commodities Authority Resolution No. (15 RM) of 2022 regarding the controls for brokerage firms at the Dubai Gold and Commodities Exchange to practice the functions of a derivatives member at the Dubai Financial Market, praising the cooperation The great deal by the Authority with the Dubai Financial Market, which contributed to the achievement of this unprecedented step that allows brokerage companies operating in the Dubai Gold and Commodities Exchange smooth and direct access to the Dubai Financial Market and thus provide new trading opportunities for their clients.
In accordance with the decision of the Securities and Commodities Authority, brokerage companies operating in the Dubai Gold and Commodities Exchange are now able to obtain a variety of licenses related to practicing the functions of a derivatives member in the Dubai Financial Market, including: a trading broker, a trading and clearing broker, or a trading broker And general clearing, in line with the license granted to it in the Dubai Gold and Commodities Exchange.
Ali said: “Dubai has an integrated system of financial and commodity markets, and we are keen to enhance the integration of all elements of this system and enable various dealers to seize the diverse opportunities offered by the market through financial products and various asset classes, as the Dubai Financial Market is among the most regional financial markets. To provide for multiple asset classes, including stocks, index funds, futures contracts for shares, oil, and others, in line with the increasing demand from the diverse market base of local and international investors.”
He added: “For example, the Dubai Financial Market recently launched the trading of futures contracts on Oman oil in cooperation with the Dubai Oil Exchange, and it continues, with rapid steps, to expand the scope of the futures market.
Moreover, we intend to reinforce this trend by providing products on new asset classes, which will allow brokerage companies operating in the Dubai Gold and Commodities Exchange to provide many services to dealers, whether on the products currently available or that are planned to be launched during the next stage.” .
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