Dubai set up DIFX
in 2005 to encourage local companies to sell shares help foreign investors tap regional wealth.
, where company shares are listed solely in dollars, has said it will also begin derivatives trading as part of its liquidity expansion plans.
UAE companies are able to list shares on the DIFX
by setting up a holding company in the DIFC.
Members will be able to trade single stock futures on UAE-listed equities and a future on the FTSE DIFX
UAE 20 equity index calculated by FTSE International.
Damas would be the fourth primary listing and first retail company to trade on the DIFX
, set up in 2005 to operate according to international standards of accounting and financial reporting.
is a unit of Borse Dubai, a Dubai state-owned holding firm which groups all the emirate's exchanges including the Dubai Financial Market (DFM) and holdings in other bourses such as DME.
has no restrictions on foreign ownership of shares, while established bourses and regulators are increasingly open to the idea of overseas investors.
In October 2006, TID Global Sukuk I was listed on the Dubai International Financial Exchange (now Nasdaq Dubai), marking the first Kuwaiti company to list on the DIFX
and the first financial institution to list a sukuk on the exchange.
A world-class stock exchange, NASDAQ Dubai, formerly known as the Dubai International Financial Exchange or DIFX
, opened in the DIFC in September 2005.
The move allows any investor connected to the Thomson Reuters order routing network, both inside and outside the region, to access liquidity from the largest markets in the Mena region, including EGX, Tadawul, KSE, DFM, DIFX
, ADX, Nasdaq Dubai, and MSM -- all via EFG-Hermes.
BH Macro and BH Global, which are both closed ended investment companies managed by Brevan Howard, are the first investment funds to be listed on the DIFX