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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  Dubai Financial Market PJSC    DFM   AED000901010

DUBAI FINANCIAL MARKET PJSC (DFM)
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Dubai Financial Market : DFM says allocation account service gaining traction

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01/22/2019 | 12:47pm EST

Dubai: The Dubai Financial Market (DFM) said on Tuesday that its allocation account service is gaining traction, with Arqaam Securities actively utilising it to conduct trade for its client base of institutional funds.

Arqaam facilitated transactions with a total value exceeding Dh20 million over various sessions this month on behalf of an institutional fund manager who does allocation to multiple sub-funds.

DFM launched the service early last year, the first among regional markets to do so, as it pushed to diversify products and services in line with international best practice while coming up with mechanisms and services that support the trading activities of various market participants.

The service enables brokerage firms to use a combined account with the clearing-house to execute buy and sell transactions involving securities on behalf of their clients, provided that such transactions are allocated to the clients’ accounts during the allocation period within 45 minutes from the end of the trading session.

Currently, three DFM members are licensed to provide allocation account services to their clients and the exchange is processing applications from other brokerages seeking the licence.

Increased utilisation of the service points to its importance for brokerage firms serving international funds, as it has provided members with a unique and transparent solution that caters to the requirements of international fund managers, thus paving the way for further market participation from their side.

Arqaam Securities is a member of the DFM and part of the Arqaam Group, a specialist investment bank in emerging markets. Arqaam Capital combines international best practice with expertise in the markets in which it operates.

(c) Al Nisr Publishing LLC 2019. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (AED)
Sales 2018 311 M
EBIT 2018 103 M
Net income 2018 147 M
Debt 2018 -
Yield 2018 2,45%
P/E ratio 2018 40,75
P/E ratio 2019 27,17
Capi. / Sales 2018 21,0x
Capi. / Sales 2019 18,7x
Capitalization 6 520 M
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 0,92  AED
Spread / Average Target 13%
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Managers
NameTitle
Essa Abdulfattah Kazim Al-Mulla Chairman
Hassan Abdul Rahman Al-Serkal Chief Operating Officer, EVP & Head-Operations
Maryam Mohammed Fikri COO, EVP, Head-Clearing, Settlement & Depository
Ali Al-Hashimi Executive VP & Head-Financial Services Division
Rashed Hamad Rahma Al-Shamsi Vice Chairman
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