Dubai Financial Market
From MarketsWiki
| This page is not complete! |
| Do you have knowledge to contribute on this or other subjects?
Help the wiki grow -- add what you know. |
| Dubai Financial Market | |
| |
| Founded | 2000 |
|---|---|
| Headquarters | Dubai, UAE |
| Key People | Essa Kazim, chairman |
| Products | Cash equities, Islamic bonds and mutual funds |
| Web site | http://www2.dfm.ae/ |
The Dubai Financial Market (DFM) is the largest financial exchange by turnover of the United Arab Emirates (UAE). The exchange's electronic platform is focused on domestic equities, bonds and mutual funds. The strategy of the exchange is being revised after its ownership was brought under the umbrella of the state-backed Borse Dubai, which also controls the rival Dubai International Financial Exchange (DIFX).[1]
Contents |
History
| This page needs a sponsor. |
| Put your logo here! |
| Email us for information on how to support MarketsWiki. |
The DFM was established in 2000 – the same year as the Abu Dhabi Securities Market was formed. The DIFX followed in 2005.
A 20 percent stake was listed on its own board in November 2006, raising $435 million in a public offering which was 300 times oversubscribed.[2] DFM was the first bourse in the Middle East to go public.
The exchange is regulated by the Emirates Securities and Commodities Authority, a UAE federal entity, and has focused on the cash equities business.
The DFM secured 10 listings in its first year, but didn’t reach 20 until mid-2005. It climbed to 55 by September of 2007, and included 11 foreign companies. The DFM's market capitalization reached AEH460 billion on Nov. 30, 2007.[3]
Structure and Regulation
The DFM operates with 98 brokers, and trading hours are 10 a.m. to 1 p.m.
Resources
References
- ↑ Press Release. Borse Dubai. Retrieved on January 14, 2008.
- ↑ Dubai Financial Market IPO oversubscribed 300 times. AME Info. Retrieved on January 14, 2008.
- ↑ Annual Report. DFM. Retrieved on January 14, 2008.
