Dubai Financial Market settles inaugural repo transactions

Dubai, 8 July 2018; Dubai Financial Market (DFM) today announced it has recently settled its inaugural repurchase (repo) transactions totaling 6 million Gulf Navigation shares and 45 million Drake & Scull International (DSI shares through its new repo settlement infrastructure. The transactions comes closely after DFM launched this new service to enable investors to unlock value of their DFM-listed securities, in a first step of its kind amongst regional markets.

Equities First Holdings, LLC (EFH), global lender and a leader in shareholder financing solutions, is the first repurchase (Repo) transactions provider in April 2018.

Maryam Fikri, Chief Operations Officer (COO) and Head of Clearing, Settlement, and Depository Division of DFM said: “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. We hope financial institutions will leverage on this new DFM infrastructure to create new products.

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