Dubai Financial Market to reopen trading floor on July 7

The Dubai Financial Market (DFM) said that it will reopen its Trading Floor and Customer Affairs counters for investors on Tuesday, July 7, with strict precautionary measures in place to ensure safety of its clients and employees.

These measures include the use of thermal measuring devices at the entrance of the Trading Floor, social distancing, controlling investors’ accessibility to Customer Affairs counters and guiding them to submit their applications through the smart devices available on the Trading Floor as well as installing barriers at the counters, reported news agency WAM.

DFM had announced the temporary closure of the floor on March 16 in the wake of the Covid-19 pandemic, but maintained its trading activities as usual in spite of the closure of the premises.

The DFM resumed operations in early June with a gradual return of its employees and brokers. As of June 14, all DFM employees returned to their offices.

In June, DFM launched its DFM Smart Services app, as part of its Smart Borse Strategy, that combined the features of both DFM app and DFM Services app, enabling users to track their investments and get their service requests accomplished through one app.

“We highly encourage market participants to continue utilising DFM’s electronic and smart platform with the same pace witnessed during the past three months. The reopening shouldn’t substitute the success achieved in terms of accomplishing transactions through DFM smart platforms developed in line with the leadership’s vision on digital transformation and as part of the Smart Borse strategy. Through these all-inclusive online and smart phone applications, investors can seamlessly accomplish all market services as well as the services of both Dubai Clearing, Settlement and Depository (CSD), and Dubai Clear,” said Hassan Al Serkal, COO and head of Operations Division at DFM.

Non-Arab foreigners traded Dhs6.3bn of shares in June, or 30 per cent of the total volume of transactions conducted across the Abu Dhabi and Dubai financial markets.

The total trades in the two markets hit Dhs20.3bn in June, Dhs12.47bn of which was traded in DFM, and Dhs7.83bn in the Abu Dhabi Securities Exchange.