Brokerage House Securities executes first Margin Financing Liability Transfer on DFM

Maryam Fekri: “DFM is proud to be at the forefront of implementing this new service creating greater flexibility for investors and brokerage firms alike”

Abdel Hadi Al Sa’di: “The service provides our clients with a secured and organized tool to transfer securities financed by margin from one Brokerage Company to another”

Dubai - In line with the regulations introduced by the Securities and Commodities Authority of the UAE on margin financing, DFM has recently implemented a new service for brokerage companies undertaking margin financing to transfer margin financing facilities between different brokerage companies.

Brokerage House Securities, one of the UAE’s leading brokerage firms, has recently been accredited by DFM as the first brokerage company to execute a Margin Liability Transfer on the DFM. This new service was introduced recently by DFM in response to regulatory changes. To date, DFM has processed AED 8 million worth of such transfers.

‘The DFM is always committed to provide market participants with world-class regulatory infrastructure that caters to the ever evolving their requirements. Accordingly, we are proud to be at the forefront of implementing this new service in response to regulatory changes that creates greater flexibility for investors and brokerage firms alike. We aim to leverage on our unique position in Dubai to further enhance our ecosystem enabling our market participants to grow their business.’ Maryam Fekri, Chief Operations Officer, EVP and Head of Clearing, Settlement and Depository, DFM said.

‘We are continuously evolving our strategies with the intention of best serving our clients; discerning investors who understand the merits of long-term foresight. We feel that our company will benefit greatly from the addition of Margin Liability Transfer procedure, inevitably benefitting our clients who will have a tool to transfer securities financed by margin from one brokerage company to another in a secured and organized manner. Being the first brokerage house to do so, it is another proud benchmark, as we grow with our industry’- Noted Abdel Hadi Al Sa’di, Managing Director of Brokerage House Securities.

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About Dubai Financial Market:

Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company and its shares were listed on 7 March 2007 with the trading symbol (DFM). . Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae

For further information, please contact:

Atef Fathy

Vice President- Head of Media & Public Relations

Dubai Financial Market

Tel: 04-3055334

Email: afathy@dfm.ae

About BHS:

Originally formed in 2005, Brokerage House Securities (BHS) is a financial brokerage company and one of the most respected financial institutions in the United Arab Emirates. BHS is one of the top ranked brokerage firms, that enjoys solid capitalization, with a high emphasis on proper risk management and disciplined corporate governance.

BHS is regulated in the UAE by the Securities & Commodities Authority (SCA) and is a trading & clearing member in the Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX), and Nasdaq Dubai.

© Press Release 2019