Dubai Financial Market (DFM) has announced that ‘Mubasher Financial Services’ and ‘HSBC Middle East Securities’ have been accredited to provide Direct Market access (DMA) for global brokers lifting the number of DMA service providers to 4 brokerage firms.
The exchange is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA).
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DMA permits brokerage companies to mandate a global broker to use its DMA access point to place buy and sell orders as some sort of electronic trading via the internet, allowing global brokers to directly trade on the market.
This development underlines the growing interest from international investors towards DFM listed securities.
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By GlobalData
