Broker EFG Hermes Scores A First On Dubai Financial Market
{{#if alert}}
{{msg}}
{{/if}} {{#if confirm}}
{{msg}}
{{/if}} {{#if email}}
Please enter a valid destination email id
{{/if}}
Allocation account enables firms to use a combined account with clearinghouse in order to execute buy and sell on behalf of clients
Dubai: The Dubai Financial Market (DFM) said on Monday that EFG Hermes Brokerage has become the first member to provide the Allocation Account Service to its client base.
The allocation account enables brokerage firms to use a combined account with the clearinghouse in order to execute buy and sell transactions of securities on behalf of their clients, provided that such transactions shall be allocated to the clients’ accounts during the allocation period within 45 minutes from the end of the trading session, the bourse said in a statement.
The DFM launched the new service to reinforce its business framework for the benefit of various participants including; issuers, investors and brokerage firms, the statement added.
Company Performance
{{-CLOSE}}
{{-CHANGE_POINTS}}
{{-CHANGE_PERCENT}}(%)
As on
BNY Mellon Lands A Big Ally For Expansion In Saudi Arabia
NCB Capital is the kingdom's biggest asset manager and investment bank Read more
Coronavirus, Low Oil Prices Set To Speed Up Gulf Bank Mergers
Moody's Investors Service says financial concerns in the region will play a larger role in encouraging deals Read more
Abu Dhabi Fund Buys $750m Stake In Retail Arm Of Indian Giant Reliance
Subsidiary of the Abu Dhabi Investment Authority will buy a 1.2% stake in Reliance Retail Ventures Read more
How The Lebanese Private Sector Is Coping In The Eye Of A Storm
Businesses extremely pessimistic about future as layoffs continue and wages plummet Read more
Lebanese Pound: The Most Undervalued Currency In The World
As political and economy chaos ensues, leading analyst says exchange rate needs sorting 'as soon as possible' Read more
How Coronavirus Is Changing Banking For The Better
Redefining finance for good: Virtual CXO Forum to take place on October 7 Read more