Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
Last updated 0 minute ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
DFM launches region’s first ETF trading platform
March 06, 2017
 Print    Send to Friend

DUBAI: Dubai Financial Market (DFM) on Sunday announced the launch of a trading platform for exchange-traded funds (ETFs), the first of its kind in regional capital markets.

Governed by a world-class regulatory framework, the platform offers unprecedented levels of integration and provides ongoing support to the burgeoning ETF industry, particularly market makers, authorised participants and liquidity providers.

DFM today hosted a bell ringing ceremony to celebrate the launch of this platform in the presence of Essa Kazim, Chairman of DFM, Dr.

Obaid Al Zaabi, acting CEO of the Securities and Commodities Authority, as well as representatives of leading global, regional and local companies cooperating with DFM and Afkar Capital in the launch of the new platform.

It is noteworthy that Afkar Capital listed the first ETF fund on DFM platform.

Also today, Afkar Capital announced that it signed Al Ramz Capital as a new Authorised Participant (AP) for the fund, bringing the total number of APs to four.

The firm has also appointed Beltone Financial as a Foreign Liquidity Provider, marking the first time a foreign market maker has been appointed as liquidity provider for a domestically listed fund in the Middle East.

DFM’s licensing of Al Ramz as an AP and of Beltone as a market marker came under a new regulatory framework announced as part of DFM’s commitment to optimise its ETF trading platform, the first of its kind in the region to offer a high level of integration between its regulatory frameworks and operating mechanism.

“Over the past few months, Dubai Financial Market has approved a new set of regulations developed in collaboration with traders to serve as a foundation for its new ETF platform. This follows the 2016 launch of the Afkar S&P UAE UCITS ETF and underscores our drive to further diversify our product offering for both local and global investors,” said Essa Kazim, Chairman of DFM.

The fund, which is listed on DFM under the symbol “UAETF” (Bloomberg: UAETF UH Equity), launched in June 2016.


Add this page to your favorite Social Bookmarking websites
Post a comment
Related Stories
DFM distributes Dhs15.8 billion cash dividends for 2017
DUBAI: As part of its leading investor and issuer services, Dubai Financial Market (DFM) has successfully accomplished the cash dividend distribution for the financial ye..
DFM and Nasdaq Dubai receive ISO certification
DUBAI: The Dubai Financial Market, DFM, and Nasdaq Dubai have been certified with the “ISO 22301: 2012” for Business Continuity Management System, BCMS, from Lloyd’s Regi..
DFM to host International Investor Roadshow in NY
DUBAI: The Dubai Financial Market, DFM, will hold its International Investor Roadshow on 2nd-3rd May, 2018, in New York, in collaboration with Bank of America Merrill Lyn..
DFM welcomes listing of Egypt firm
DUBAI: The Dubai Financial Market, DFM, on Sunday announced the listing of NAEEM Holding for Investment, in a first step of its kind from an Egyptian company. Trading com..
DFM joins 61 exchanges for gender equality
Dubai: As part of its active role in promoting gender equality and empowering women in the capital markets sector, the Dubai Financial Market (DFM) has hosted a bell ring..
Advertise | Copyright