Union Coop Releases ‘First’ Update of Its Electronic Share Trading Platform
Prepared by: Benoi Nair
“The new update will allow shareholders to access the best ‘Buy and Sell’ orders…”
Union Coop, the largest Consumer Cooperative in the UAE launched the first update of its electronic share trading platform, which will allow shareholders to view the best ‘buy’ and ‘sell’ share orders during their daily trading sessions.
As per the CEO of Union Coop, Mr. Khalid Al-Falasi, this latest update is adjacent to the best practices adopted by International Share markets to ensure transparent transactions and secure shareholders’ equity.
He said, “Since the launch of Union Coop’s electronic share-trading platform in ‘May’ this year, Union Coop’s share prices have been remarkably stable. This platform allows shareholders to trade freely, efficiently and securely.”
“We have stopped rumors on social media and fake trading of shares that are being spread to mislead the shareholders in order to harm the share value as well as the shareholders by some of the brokers through Linking share value directly to the ‘Demand and Supply’.
On how this new update will facilitate the decision-making of shareholders, Al Falasi said, “The registered shareholders will be able to view the best buy and sell orders daily during their respective trading sessions, indicating the number of shares and their prices, which will facilitate their decision-making process.”