Dubai – MENA Herald: Dubai Financial Market (DFM) honored five of its licensed brokerage firms for providing their customers with trading via smart phone applications in 2015, lifting the number of firms that offer this service on DFM to 12 brokerages. The 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 five companies received recognition trophies from Hassan Al Serkal, Chief Operating Officer (COO), DFM, during the exchange’s participation in GITEX 2015. The list of honored companies comprised: Union Brokerage Company, Shurooq Stocks & Bonds, Naeem Shares & Bonds, Al Safwa Islamic Financial Services and Al Ansari Financial Services. Mubasher Financial Services has been honored also as the most active brokerage company in 2015, trading via smart phones category. The company has conducted AED 1.7 billion of smart phones transactions, which is 53% of the total value of trading via smart phones on the market.
Value of Trading via smart phones
The total value of trading via smart phone applications was up 27% in the first nine months of 2015 reaching AED 3.3 billion compared AED 2.6 billion during the same period of 2014. It is expected to gain further momentum over the coming period as more brokerage firms provide this service with the full support and encouragement of DFM.
Commenting on this, Hassan Al Serkal said, “In 2015 to date, five brokerage firms have launched trading via smart phone applications, lifting the number of brokerage providing this service on the market into 12 companies. The DFM is actively collaborating with various licensed brokerage firms to provide highly sophisticated services and the most effective and flexible communication channels between these companies and investors in regards to electronic and mobile trading tools. We are delighted to see such proactive efforts from our licensed brokers and we have always been committed to providing brokerage companies the necessary support to expand in this field, as trading through smart phones represents a wonderful addition that caters to the evolving needs of investors and allows them to trade on the market anytime, anywhere. Accordingly, we actively encourage other firms to follow suit and provide their customers with this service as part of DFM’s drive towards the “Smart Borse” concept.”