Al Ramz obtains Margin Trading Permit by SCA

Al Ramz Securities, one of the UAE’s brokerage houses, has been granted a Margin Trading permit by the UAE’s Securities and Commodities Authority (SCA). SCA has developed an effective, well-defined margin trading mechanism stipulating the legal rights and responsibilities of brokers and clients. Under the terms of the broker-client agreement, clients have the right to request funding by buying stocks under a Margin Account, without having to pay the underlying dues. In case of a decrease in the stock value to the minimum rate, Al Ramz Securities is entitled to sell all or part of the stocks within the Margin Account. From gulftoday