Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) has granted Al Ramz Corporation Investment and Development, listed on the Dubai Financial Market (DFM), a short-term margin trading license.
This move reflects ADX's objective to develop business growth opportunities and enhance its relationships with the leading regional financial institutions, according to a press release on Thursday.
The managing director of Al Ramz, Mohammad Al Mortada Al Dandashi, said: “This license allows Al Ramz to provide high leverage, up to five times the initial placed margin amount, to its customers to buy ADX listed securities for a specific short period”.
Meanwhile, the Chief Executive of ADX, Khalifa Al Mansouri, remarked: "By granting short-term margin licenses to active investment companies in the region, ADX provides its business partners with the opportunity to enlarge the spectrum of investment offering proposed to their clients."
