Dubai Financial Market (DFM) has accredited the Abu Dhabi-based investment bank ‘Mena Corp Financial Services’ to provide margin trading.

This has lifted the total number of brokerage firms in DFM, providing this service to eight companies.

The exchange is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA), said a statement.

Margin trading permits brokerage companies to fund a percentage of the market value of securities traded, and secure as collateral for the same securities or any other collateral as required by the SCA’s license, it said. - TradeArabia News Service