Mashreq Securities said today it is expanding its reach to allow individuals and institutions in the UAE and elsewhere to trade shares listed on the Dubai International Financial Exchange (DIFX), in addition to its existing brokerage activities on the DFM and the ADSM.
Khaled Kurdieh Head of Mashreq Securities said: “While the Exchange is still young, Mashreq Securities has no doubt that it will grow into one of the premier stock markets in the region. We are convinced about the value proposition that a quality exchange like the DIFX brings. Hence we have committed considerable resources to ensure that both retail and institutional investors can enjoy seamless access to the Exchange.”
Mashreq Securities has designated special MashreqBank branches throughout the UAE that will entertain account opening enquiries from customers. Customers will also have access to a call in number.
The DIFX has been designed for easy and straightforward access for retail and wholesale investors to trade in its securities.
Mashreq Securities will route trades on the DIFX through its sister company Mashreq Capital DIFC, which became a Member of the DIFX in April last year.
Eight companies are already listed on the DIFX and the list is expected to grow rapidly this year. The listed companies are:
• Albaraka Banking Group (ordinary shares)
• Citigold Corporation (ordinary shares)
• Fortune Management (ordinary shares)
• Gold Fields (American depositary shares)
• Hikma Pharmaceuticals (global depositary receipts)
• Kingdom Hotel Investments (ordinary shares)
• Man Industries (India) (global depositary receipts)
• Rana Sugars (global depositary receipts);
Per E. Larsson, Chief Executive of the DIFX, said: “As one of the leading brokers in the UAE, Mashreq Securities has a long track record of helping investors trade in securities on various markets. The DIFX will benefit enormously from Mashreq’s support.
“The exchange is growing rapidly through the increasing involvement of issuers, brokers and investors, to the advantage of all.”
Hamed Ali, Executive Officer of the DIFX, said: “The DIFX is preparing for further significant listings and is constantly strengthening its connections with the retail and wholesale investor community and with brokers. We are building a market with easy access for all.”
