FTSE Group, the global index provider, and Dubai International Financial Exchange (DIFX) have created the first Gulf Cooperation Council (GCC) country tradable indices for domestic, GCC, and international investors.
The indices are intended to facilitate the creation of investment products like tracker funds, index certificates, warrants, and ETFs, and also pave the way for the introduction of exchange traded index derivatives including futures and options, providing a new paradigm in the growth of capital markets in the region.
The GCC countries initially included in the series are the UAE, Kuwait and Qatar.
The FTSE/DIFX indices are the first set of real-time indices for the GCC region. The three new indices, which began calculation on 12th June, are:
Shariah-compliant editions of these indices will also be available later in the year.
“FTSE is honoured to bring its international indexing expertise to this exciting new market," commented Donald Keith, Deputy Chief Executive of FTSE Group.
"By creating this first phase of tradable indices we hope to improve transparency and liquidity in these markets and facilitate the creation of products that will allow both domestic and international investors to invest in these exciting markets," he added.
Nasser Alsha’ali, Chief Operating Officer of the DIFX observed that: “FTSE has a long-standing and proven track record for working with exchanges in developed and emerging markets around the world."
He added: "With FTSE, we have created the first phase of a viable family of indices that we hope will build bridges between markets.”
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