Dubai Financial Market opens its doors to brokerage firms operating in the Dubai Gold and Commodities Exchange

The Dubai Financial Market announced today that it has obtained the approval of the Securities and Commodities Authority to allow brokerage firms operating on 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.

This step meets the growing interest of about 21 brokerage firms accredited by the Securities and Commodities Authority as intermediaries in the Dubai Gold and Commodities Exchange, 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/R.M) 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 The great cooperation of the Authority with the Dubai Financial Market, which contributed to the achievement of this unprecedented step, which 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 firms 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 general trading and clearing broker, This is in line with the license granted to it in the Dubai Gold and Commodities Exchange.

Hamed 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 financial markets The regional market provides 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.”

Hamed Ali 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 continues with rapid steps to expand the scope of the futures market. Moreover, we intend to enhance this trend by providing products On new asset classes, which allows brokerage companies operating in the Dubai Gold and Commodities Exchange to provide many services to dealers, whether on products currently available or that are planned to be launched during the next stage.”

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