The company’s total revenue has decreased by 34% to AED 99.1 Million in Q1-2018 compared to AED 149.34 Million during Q1-2017. The revenues are comprised of AED 60.66 Million of operating income and AED 38.44 Million of investment returns. Meanwhile, operating expenses reached to AED 50.2 Million during Q1-2018 compared to AED 47 Million during the same period of 2017.
DFM’s trading value has decreased 57.2% during the first quarter of 2018 to AED 20.4 Billion compared to AED 47.8 Billion during the corresponding period of last year.
His Excellency Essa Kazim, Chairman of the Dubai Financial Market Company (PJSC) said: “During the first quarter of 2018, the DFM has implemented numerous development initiatives aimed at further enhancing its infrastructure and regulations in line with international best practices and as part of its strategy 2021 that focuses on diversifying DFM’s products and services. Within this context, the DFM has launched the Allocation Account mechanism in a first step of its kind amongst regional markets. We also accredited the first brokerage firm to provide this service to its clients. The new service creates a unique and transparent solution that caters for the requirements of international fund managers and paves the way for further participation from their side on the market. As part of this mechanism, brokerage firms will be able to implement the orders of clients through this account and allocates the quantities to each investors account based on the average price of the transactions.”
“During the first quarter of 2018, the DFM has maintained and strengthen its position as the most favored listing venue for leading local and regional companies with the listing of Bahrain’s Ithmaar Holding and Egypt’s NAEEM Holding for Investment. Additionally, the DFM attracted 1586 new investors, lifting the total number of registered investors to 842568 investors. Meanwhile, trading commenced on Nasdaq Dubai on futures linked to DFM’s General Index, which provide investors with a new tool to track the performance of DFM,” H.E. Essa Kazim added.
Elaborating on DFM’s efforts in terms of market services, His Excellency Essa Kazim said: “Providing market participants with innovative and smart solutions is one of the main pillars of our strategy in line with the leadership’s vision on digital transformation. Accordingly, we have launched, the DFM has launched the Dividend Distribution System (DDS) in a first step of its kind during Q1-2018. This innovative solution fortifies DFM’s position at the forefront of the most innovative exchanges.
The system enables the DFM to swiftly process the cash dividend distribution based on a comprehensive and continuously updated databank of investors’ details. Additionally, the first quarter witnessed also the launch of DFM a first of its kind Brokers Excellence Rating initiative as part of our constant efforts to promote service excellence. The Rating aims at to assessing excellence of services provided by DFM-licensed brokerage firms to their clients and their achievements in terms of embracing the UAE’s digital transformation and innovation strategy.”