German regulator allows brokers to trade directly on DIFX
The financial services regulator in Germany has authorised brokers there to connect directly to the Dubai International Financial Exchange (DIFX) and trade securities on it.
It is the fifth European country to allow brokers to trade directly on the DIFX, along with the Irish Republic, the Netherlands, the UK and Switzerland.
Per E. Larsson, Chief Executive of the DIFX, said: "This agreement significantly strengthens the international links of the exchange, as Germany is Europe's largest economy with a vast pool of investors. These investors now have a new route to access the growing opportunities offered by the DIFX as the region's international exchange."
The decision by Germany's Federal Financial Services Authority (BaFin) covers brokers that are domiciled there and allows them to apply to the DIFX to become Members of the exchange.
The exchange currently has 19 Members including leading international and regional banks and brokers.
Hamed Ali, Executive Officer of the DIFX, said: "The DIFX has created links that enable all investors, whether international or regional, to trade easily on the exchange. To enhance these we look forward to reaching further agreements with regulators in other countries.”
© 2007 Al Bawaba (www.albawaba.com)
- DIFX signs MoU with Euronext, AtosEuronext, LCH.Clearnet and Euroclear
- merrill lynch announces launch of direct market access platform on difx
- RFIB opens office in Dubai International Financial Centre
- DIFX becomes affiliate member of IOSCO, strengthening international links
- Mubasher facilitates e-trading on international stock markets and commodities, gold, silver and currency exchanges