Brokerage firms at the Dubai Financial Market (DFM) opened 26,596 new investor accounts during the first quarter of the current year 2024, according to data released by the exchange.
This number amounts to a growth of 103% compared to the 13,112 accounts opened during the first quarter of 2023, according to data released by the DFM.
This comes amid significant momentum in the market since the announcement of the listing of government and semi-governmental companies, including the recent listing of Parkin, which was oversubscribed by 30% on the day of listing.
The new accounts were distributed over the months of the year, with a notable YoY spike of 151.5% in March 2023, when 16,574 new accounts were opened. This is also the same month the Parkin initial public offering (IPO) took place.
Meanwhile, the first quarter of 2024 saw 30 brokerage firms operating in the DFM execute over 1.014 million transactions, involving 22.7 billion shares, with a value exceeding Dh50.9 billion.
