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DUBAI / WAM
Dubai Financial Market (DFM) announced the launch of a trading platform for exchange-traded funds (ETFs), the first of its kind in regional capital markets.
Governed by a world-class regulatory framework, the platform offers unprecedented levels of integration and provides ongoing support to the burgeoning ETF industry, particularly market makers, authorised participants and liquidity providers.
DFM hosted a bell ringing ceremony to celebrate the launch of this platform in the presence of Essa Kazim, Chairman of DFM, Dr Obaid Al Zaabi, acting CEO of the Securities and Commodities Authority, as well as representatives of leading global, regional and local companies cooperating with DFM and Afkar Capital in the launch of the new platform. It is noteworthy that Afkar Capital listed the first ETF fund on DFM platform.
Also, Afkar Capital announced that it signed Al Ramz Capital as a new Authorised Participant (AP) for the fund, bringing the total number of APs to four. The firm has also appointed Beltone Financial as a Foreign Liquidity Provider, marking the first time a foreign market maker has been appointed as liquidity provider for a domestically listed fund in the Middle East.