The Dubai International Financial Exchange (DIFX) announced today that it plans to open for trading in September 2005 after signing a contract with AtosEuronext for the supply of an automated trading platform for the exchange.
According to the DIFX, the agreement will provide the exchange with a first class infrastructure, and heralds a key development in its plans to become the main international financial exchange between Western Europe and East Asia for equities, bonds, and a range of other products.
"This agreement is a big step forward,” observed Lynton Jones, chairman of the DIFX.
“It keeps us on course to become a major new securities market for international issuers, brokers and investors and the international exchange of choice in the Middle East,” he added.
The DIFX, located in the Dubai International Financial Centre, is currently in discussions with potential issuers and leading international and regional intermediaries who wish to become members of the exchange.
Dominique Brutin, chief executive of AtosEuronext, added that: "We are very pleased to have been chosen by the DIFX to provide it with NSC, our fully electronic trading platform used in more than 15 exchanges throughout the world. AtosEuronext's unrivalled expertise will assist the DIFX in becoming a leading international financial exchange.”
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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