Dubai Financial Market Honors 11 Brokerage Firms for Introduction of Trading Via Smart Phone Applications

Dubai Financial Market (DFM) honored 11 of its licensed brokerage firms for providing their customers with trading via smart phone applications in 2016, lifting the number of firms that offer this service on DFM to 26 brokerages. DFM closely collaborates with brokerage firms to provide the service to their customers and actively encourages them to enable investors to trade anytime and anywhere as part of its “Smart Borse” strategy, in line with the vision and directions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai.

Representatives of the brokerage companies received trophies from Hassan Al Serkal, Chief Operating Officer (COO), DFM, during the exchange’s participation in GITEX 2016. The list of honored companies included: Al Dhafra Financial Broker, ADCB Securities, Finance House Securities Company, Integrated Securities, Al Daman Securities, Al-Sharhan Stock Center, Al Wathbah Shares & Bonds Center, CBD Financial Services, Emirates Islamic Financial Brokerage and Global for Shares & Bonds. In addition, ADIB Securities has been honored as the most active brokerage company in 2016, trading via smart phones category. The company has conducted AED 1.7 billion of smart phones transactions, which is 41% of the total value of trading via smart phones on the market.
 
The total value of trading via smart phone applications was up 27.3% year to date 2016 reaching AED 4.2 billion compared to AED 3.3 billion during the same period of 2015. It is expected to gain further momentum over the coming period as more brokerage firms provide this service with the full support of DFM.