2024-05-01 16:24:12
Dubai Financial Market brokerage firms added 36,553 new accounts for investors in the first four months of the current year 2024, a growth of 111% compared to the 17,358 accounts in the same period in 2023, in the context of the great dynamics that the market has witnessed since the announcement of the listing of government and semi-public companies, among which “Parkin” and “Spinneys”, which have contributed to strengthening the attractiveness of the market and attract new segments of investors.
Based on data from the Dubai Financial Market, the new accounts were distributed into 4,465 accounts in January, 5,557 accounts in February, 16,574 accounts in March and 9,957 accounts last April, during which the number of new accounts recorded a notable increase on an annual basis of 134.5% compared to approximately 4,246 new accounts in March 2023, in connection with the Spinneys share offering.
BHM Capital Financial Services Company accounted for the largest share of new investor accounts in the first four months of this year, with 12,752 accounts, followed by Emirates NBD Securities with 10,816 accounts, then Al Ramz Capital with 4,741 accounts , followed by “Emirates NBD Securities”. ” with 10,816 accounts. Mashreq Securities has around 2,065 accounts, International Securities 1,880 accounts, Abu Dhabi Islamic Securities 1,526 accounts, followed by Financial Group Hermes – UAE with 462 accounts and First Abu Dhabi Securities with 460 accounts.
In a related development, the 30 securities firms of the Dubai Financial Market executed more than 1.359 million transactions in the first four months of this year, involving 29.42 billion shares, worth more than 65 .2 billion dirhams.
EFG Hermes Emirates accounted for the largest share of the total trading value of brokerage firms in the first four months of this year, accounting for 25.05%, equivalent to 16.3 billion dirhams, then “BHM Capital” with a share of 11.44%, or 7.47 billion dirhams, and in third place, “Emirates Dubai National Securities” amounted to approximately 6.35 billion dirhams, or 9.74%. , and “Arqaam Securities” amounted to 5.7 billion dirhams, or 8.84%.
“Abu Dhabi Islamic Securities” comes in fifth position with around 2.89 billion dirhams, or 5.6%, “XCube – Market Maker” with around 3.18 billion dirhams, or 4.88%, and “Al Ramz Capital” with 2.89 billion dirhams, with a share of 4.44% and “BHM – Market Maker” with around 2.29 billion dirhams, or 3.52%.
BHM Capital announced the launch of the fixed income investment service, coinciding with it topping the list for attracting new accounts for investors and for liquidity compared to brokerage firms listed on the Dubai Financial Market in the first four months of this year.
Abdul Hadi Al-Saadi, CEO of BHM Capital, said: “The launch of the fixed income investment service is part of our ongoing efforts to develop services that meet the needs of our clients, providing them with superior liquidity, pricing and execution across the board. regional and global financial markets. » He added: “The possibility of interest rates falling in the coming months now probably provides a good entry point for investing in fixed income products.
He added: “The launch of the bonds division comes once morest the backdrop of the continued expansion of financial markets in the Gulf region, with a significant increase in the weight of Gulf bonds and sukuks in fixed lists widely followed by investors. global bond investors. This translates into approximately $600 billion in issuance traded through conventional bonds and sukuk from Gulf Cooperation Council issuers, including $180 billion from issuers in the UAE alone, and Regional capital markets are expected to receive increasing allocations from countries around the world. investors in fixed income products.
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