Dubai – Mubasher: Dubai Financial Market (DFM) has announced that it granted Equities First Holdings (EFH), a global lender and a major shareholder financing solutions, an approval to offer repurchase (repo) transactions.
Under the permission, EFH will be able to provide repo services on the market under the regulations of both the Securities and Commodities Authority (SCA) and the DFM, according to a company statement released on Sunday.
“We are pleased to license the first repo provider in a momentous development that further strengthens the DFM’s leading position in the region,” the DFM’s COO Maryam Fikri commented.
A repo (repurchase agreement) is a financial instrument in which the seller of a security can repurchase it at an agreed-upon price determined at the beginning of the selling transaction.
“As an emerging market, the UAE, and the Dubai Financial Market specifically, has been part of EFH’s ongoing growth plan for several years,” EFH’s Founder and CEO Al Christy Jr said.
