Dubai – Mubasher: The Dubai Financial Market (DFM) on Sunday said that it has recently settled its first repurchase (repo) transactions, involving 6 million shares of Gulf Navigation, in addition to 45 million stocks of Drake and Scull International (DSI) by new repo settlement infrastructure.

These deals were carried out shortly following the DFM’s launch of new repo settlement infrastructure service over the previous period, according to the bourse’s statement.

The new repo settlement infrastructure services enable traders to unlock their DFM-listed securities’ value, ir added.

Equities First Holdings (EFH) is considered the first Repurchase (Repo) deals provider in April 2018.

“We are very pleased with these first transactions as they reflect that DFM is on track in creating value for its investors in releasing values of their securities through an OTC repo with a lending company, which may then lead to further improvement in trading activity,” chief operations officer (COO) and head of Clearing, Settlement and Depository Division at DFM Maryam Fikri stated.

Fikri expressed her hope that the financial institutions will leverage on the bourse's new infrastructure in order to create fresh products.