Dubai Financial Market scraps minimum trading commission from Sep 1

Dubai Financial Market scraps minimum trading commission from Sep 1

Dubai Financial Market has waived the minimum trading commission from September 1, it announced on Tuesday. The directive was part of several initiatives aimed at promoting retail investors’ participation in the market and enabling them to avail its investment opportunities that include a range of asset classes and financial products, the exchange said in a statement. Hassan Al Serkal, CEO of the DFM said:”Waiving the minimum trading commission represents a significant development for retail investors in particular, as it will directly reduce the transaction cost and consequently maximises the potential return, hence encouraging them to further trade on the market. The larger number of transactions will ultimately benefit various stakeholders including investors, brokerage houses, etc.” DFM also announced last month that it will extend trading time to five hours daily as of October 3. Meanwhile, the Abu Dhabi Securities Exchange also said that it will cut in half its trading commission and extend trading hours in an attempt to boost liquidity in the market. Trading fees will be reduced to 0.025 per cent from 0.05 per cent starting from September 1.