UAE - Mubasher: The Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) will extend their trading hours by one hour daily as of 3 October 2021.
This decision, under which the markets will open at 10 am and close at 3 pm, is in line with the directions of the Securities and Commodities Authority (SCA) and in coordination with various stakeholders, according to recent press releases.
The CEO of DFM, Hassan Al Serkal, said that extending the trading hours will attract more diversified categories of investors, especially the international investors, who currently represent 48.2% of the market's trading activities.
Meanwhile, the ADX has decided to cut its trading commissions by 50% to 0.025% from 0.05%, effective from 1 September.
The CEO of ADX, Saeed Hamad Al Dhaheri, said: "The significant reduction in trading commissions and the extension of our operating hours align ADX with international practices and helps us to realize our ADX One strategy’s main aim of enhancing liquidity and increasing our market capitalization."
