13.1K new accounts in Dubai Financial during the first quarter, a growth of 52%

Brokerage firms in the Dubai Financial Market (DFM) added 13,109 new investor accounts during the first quarter of this year, amid significant momentum witnessed by the market since the announcement of the listing of 10 government and semi-government companies, including DEWA, TECOM, Union Coop, Salik, Empower and Taaleem, in addition to the upcoming listing of Al Ansari Financial Services, which contributed to enhancing the market's attractiveness and attracting new segments of investors.

According to a monitoring by the Emirates News Agency (WAM), based on DFM data, the number of new accounts in the DFM recorded a significant growth of more than 52% during the first quarter of 2023, compared to 8627,<> new accounts during the first quarter of last year.

Companies added 6591,3436 new accounts in March, 3082,2023 accounts in February and <>,<> accounts in January <>.

Emirates NBD Securities accounted for the largest share of new investor accounts during the first quarter with 3419,26 accounts or 1.1772%, followed by Al Ramz Capital with 13,5 accounts or 1541.11%, Abu Dhabi Islamic Securities with 7,1400 accounts with a share of 10.6%, followed by BHM Capital with 1256,9 accounts or 6.1247%, International Securities with 9,5 accounts with a share of 430.<>%, and Mashreq Securities with <>,<> accounts with a share of <>.<>%. EFG Hermes UAE has <> accounts.

The 28 brokerage firms in the Dubai Financial Market executed more than 781.4 thousand transactions during the first quarter of this year, on 16.4 billion shares, worth more than AED 38 billion.

EFG Hermes accounted for the largest share of brokerage firms' total trading value at 25.15% or AED 9.96 billion, followed by Arqaam Securities with 16% at AED 6.1 billion and BMH Capital at AED 4.1 billion or 10.7%.