Dubai – Mubasher: The Dubai Financial Market (DFM) announced on Monday that Union Brokerage Company (UBC) has been accredited to provide Margin Trading service on the bourse.

The decision brings the total number of DFM brokerage firms providing this service to 33 companies, according to the DFM’s press release.

Margin Trading permits brokerage companies to fund a percentage of the market value of securities traded, and secure as collateral for the same securities or any other collateral as required by the licence by the Securities and Commodities Authority’s (SCA).

DFM is currently processing similar applications from other brokerage firms in collaboration with SCA.