Abu Dhabi exchange allows short-term trading

Arabic_traderThe Abu Dhabi Securities Exchange (ADX) has approved the introduction of short-term trading in a bid to encourage greater capital markets activity and attract more investors. So-called pattern day trading increases investment capital fourfold due to a three day increase on return on investment. The move does come with some conditions. The minimum trade value should be 100,000 dirhams ($27,225), the securities must be deposited in an account for short-term trading and initial margin should not be less than 20% of the securities in the trading account. Approvals will be issued by the ADX upon brokers’ requests and subject to the exchange’s conditions, controls and technical standards. The ADX believes the move provides investors with more freedom and a greater variety in terms of products. “The Pattern Day Trader is based upon a modern, forward-looking and innovative global approach to finance which has high levels of transparency,” said Khalifa Salem Al Mansouri, chief executive of ADX. ©2019 funds global mena

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