The Company recorded a total revenue of AED 239.3 Million in H1-2017 compared to AED 227 Million during H1- 2016. The revenue comprised of AED 186 Million of operating income and AED 53.3 Million of investment returns. The Company expenses reached AED 93.7 Million compared to AED 92.7 Million recorded during H1-2016. During the second quarter of 2017, the Company’s revenue reached AED 90 Million compared to AED 100 Million in the second quarter of 2016, whilst expenses amounted at AED 46.7 Million in the same period compared to AED 46.5 Million during Q2- 2016.
It is noteworthy that during the first six months of 2017, the DFM trading value reached to AED 70 Billion, a 1% increase compared to the corresponding period of 2016. Trading commissions represent the main revenue stream of the DFM Company.
His Excellency Essa Kazim, Chairman of Dubai Financial Market (PJSC) said: “The DFM spares no effort in order to further strengthen its leading position amongst regional markets in terms of embracing international best practices as well as providing new services that empowers market participants’ efficient and active trading on our market. During the first half of the year, DFM has implemented numerous initiatives as part of the strategic plan 2021 including; the launch of Exchange-Traded Funds (ETFs) Platform, the first of its kind in regional capital markets. DFM also plans to overhaul its technological infrastructure in cooperation with NASDAQ to bolster the technological infrastructure and further improve trading and post-trade practices and pave the way for various enhancement, including the establishment of a central counterparty (CCP) clearing. During the first half also DFM has introduced the Liquidity Provision Service, which enables issuers to mandate a licensed company to provide LP services on a specific share in order to enhance liquidity, market depth and achieve balance between buy and sell.”
Commenting on DFM’s efforts to further strengthen issuers’ links with international institutions and attract various investors categories to the market, H.E. Essa Kazim said, “The DFM has successfully organized its International Investor Roadshow in London in May 2017 and the event included 166 One-on-one meetings between senior representatives of 14 Dubai-listed companies and 52 London-based international institutions with US$ 2.3 Trillion of assets under management. The London roadshow was the most recent event of DFM’s series of Investor Relations initiatives to fortify links between listed companies and international investors, the event reaffirmed investors growing interest towards Dubai’s capital markets amidst growing confidence about the outlook of the national economy, its ability to maintain high levels of growth and the lucrative opportunities available on the markets.”
During the first half of 2017, the DFM has received numerous business awards in a clear testimony on its business excellence and its crucial role in fortifying the financial sector and realizing the strategic objectives in the UAE. The DFM became one of the first financial institution to win the Global Islamic Business Award (GIBA) Dubai Financial Market (DFM) has obtained the Global Islamic Business Award in the first round of this Dubai Economy’s initiative aimed at promoting best practices of business excellence amongst institutions in various sectors in line with the Islamic Sharia’a values. This award is a clear recognition of DFM’s leading role in the Islamic capital markets sector. The award also reflects the excellence of our business model as it combines Sharia’a compliance in one-hand and quality standards on the other.
The DFM also received the Investor Service Centre honored with Best Call Center Award from Dubai Service Excellence Scheme organized by Dubai Economy as part of its continuous efforts to further enhance customer service excellence. The award is based on the results of the Mystery Shopper study run yearly by the department to attain customer’s evaluation of the quality and swiftness of services.
Moreover, the DFM received the “ISO 9001:2015” Quality Certificate from Lloyds Register Quality Assurance (LRQA). As the first step of its kind amongst regional exchanges, this step clearly indicates DFM’s commitment to implement highest levels of service quality as well as continuously develop its services and methods of service provision to various participants in line with international best practices.