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DIFX Recognised By World Federation Of Exchanges

by Lorys Charalambous, Tax-News.com, Cyprus

13 December 2006


The Dubai International Financial Exchange (DIFX) has been accepted as a correspondent member of the World Federation of Exchanges, the leading international body promoting the interests of securities markets.

“Our link with the Federation is another step in the integration of the DIFX with the global capital markets community," commented Per E. Larsson, Chief Executive of the DIFX.

"The DIFX will support and benefit from the Federation’s activities in promoting the efficiency of regulated markets, creating cross-border initiatives and harmonising standards," he added.

Correspondent status is the first step towards full membership of the Federation, which groups most of the world’s leading exchanges. The Federation’s activities include lobbying public authorities on behalf of exchanges, hosting conferences and collating industry statistics.

“We are delighted to have achieved correspondent membership just over a year after the exchange opened in September 2005," continued Larsson.

"The Federation is an effective forum through which we will communicate with other markets in the region and beyond," he noted.

In June 2006 the DIFX was admitted as an affiliate member of the International Organisation of Securities Commissions (IOSCO), another leading international body that promotes high standards amongst regulators and stock exchanges.

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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