Dubai – Mubasher: Brokerage companies working in the Dubai Financial Market (DFM) have opened around 680 accounts last month, registering a 22% year-on-year decline in the number of the new accounts.
The number of transactions closed by the brokerages in the DFM retreated 29% year-on-year to 86,948 transactions during September versus 122,310 transactions, according to data compiled by Mubasher.
The DFM’s trading volumes decreased by 28.4% to 5.25 billion shares in September from 7.33 billion shares in the year-ago period, the data showed.
Brokerages’ trading value dropped 28.8% to AED 7.75 billion from AED 10.9 billion in September 2016, according to Mubasher’s data.
In September, EFG Hermes Securities Brokerage - UAE ranked first in the DFM’s list of brokerages with AED 951.69 million ($259.15 million), representing 12.27% of total trades.
Meanwhile, Al Safwa Mubasher brokerage, previously Mubasher Financial Services, ranked fifth with AED 505.65 million in trades, representing 6.52% of the DFM’s total.
