UAE brokerages gave $9.9bn credit facilities in Q1
ABU DHABI, 9 days ago
The total value of margin trading facilities provided by brokerages operating at Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) amounted to Dh36.5 billion ($9.93 billion) during the first quarter of 2017, up 46 per cent over the same period last year.
The margin trading accounted for 27.8 per cent of the total transactions conducted at ADX and DFM during the period from January till March 2017, which totalled Dh131 billion, said the state news agency Wam, citing official statistics.
The DFM accounted for the largest share of margin trading, reaching Dh29.44 billion, which is equal to 30.55 per cent of the total cash inflows to the market since the beginning of the year, valued at Dh96.44 billion, it stated.
January witnessed the highest levels of margin trading facilities, amounting to more than Dh17 billion at ADX and DFM, while March saw the lowest level, the report added.