Dubai Financial Market reveals ETF platform

ETFsThe Dubai Financial Market, the main stock exchange in the emirate, has launched a platform for transacting in exchange-traded funds (ETFs). The exchange says the platform is based on regulations developed in collaboration with traders over the past few months and is aimed at promoting more ETF trading. “Dubai Financial Market is committed to its strategy of providing investors with a wide range of innovative products,” said Essa Kazim, chairman of the exchange. The one ETF currently listed on the exchange is from Afkar Capital and tracks an index of UAE-listed companies from S&P. Since its launch last summer, the fund “has received a strongly positive reception not just in the Middle East, but from global authorised participants and market makers with whom we have met in both the UK and the US”, said Seif Fikry, Afkar Capital chief executive. ©2017 funds global mena

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