Dubai International Financial Exchange
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The Dubai International Financial Exchange (DIFX) is a stock exchange opened on September 26 2005 in Dubai, United Arab Emirates. DIFX aims to become the leading stock exchange between Western Europe and East Asia.
Listed Products and Member Banks
Products listed on the the DIFX include ordinary shares listed by Kingdom Hotel Investments as well as Global Depository Shares issued by Investcom. The exchange currently has ten member banks – Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, EFG-Hermes, HSBC, KAS BANK, Morgan Stanley, SHUAA Capital and UBS. On March 26, 2006, DIFX announced the appointment of Per E. Larsson, former head of the Sweden-based OM Group (now OMX and owner of several Nordic Exchanges), as the next Chief Executive of the exchange. He will take up his post in early July 2006 and succeed DIFX's first Chief Executive Steffen Schubert.Activities
The exchange expects to welcome regional and international issuers and members. For international investors, the DIFX will be the main gateway to opportunities in the Gulf Cooperation Council states and the rest of the Middle East and North Africa, as well as South Africa, Turkey, Central Asia and the Indian sub-continent.For issuers of shares and other securities in these areas, the exchange offers increased market visibility, access to regional and global capital and the ability to sustain fair valuation. The trading hours of the DIFX are from 11:45am to 5pm (07:45am to 1pm GMT) from Monday to Friday. The DIFX intends to become the platform of choice in its region for a range of Equities, Bonds, Funds, Islamic Banking, index Products, and Derivatives.
The Dubai International Financial Centre
The DIFX is located in the Dubai International Financial Centre (DIFC), a financial free zone which opened for business in 2004. Financial activities in the DIFC are governed to international standards by an independent regulator, the Dubai Financial Services Authority (DFSA). The DIFX has a licence from the DFSA to operate an exchange. The President of the DIFC is His Highness Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President, Prime Minister and Ruler of Dubai.See also
- Latin American International Financial Exchange
- Independent Financial Centre of the Americas
- Shanghai World Financial Centre
- Irish Financial Services Centre
External links
- [www.difx.ae] - Dubai International Financial Exchange
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