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Brokerage House Securities Completes First Repurchase Agreement Transaction In Dubai Financial Market |
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Brokerage House Securities, a subsidiary of KBBO Group, announced that it has collaborated with Dubai Financial Market to execute its first repurchase agreement on securities listed in local financial markets. The transaction will allowinvestors to receive liquidity and benefit from the underlying values of the securities they hold. A repurchase agreement (repo) is a financial instrument through which the buyer provides cash liquidity to the seller against the securities the latter holds, and after a specific period, the seller will repurchase the securities at a pre-agreed rate at the time of the transaction. Commenting on the occasion, Abdul Hadi Al Sadi, Managing Director of Brokerage House Securities, said: “We are proud to say that BHS is the first brokerage company in the local securities market to offer repurchase agreements to its customers to enable them to receive necessary cash liquidity, while boosting trading activities in our local financial markets.” Al Sadi added that, “The repurchase of local, market-listed securities will servethe interests of individual and corporate investors, as well as the securities companies, banking and financial institutions interested in lending. This move will also maintain the value of shares and securities, and help boost trading activities in the local financial markets.” BHS is associated with the Abu Dhabi based, KBBO Group, and is one of the top ranked UAE brokerage firms, providing prime financial trading services in Dubai Financial Market (DFM), Abu Dhabi Stock Exchange (ADX), and NASDAQ Dubai as an equities & derivatives trading member. |
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