Abu Dhabi exchange delays 1st ETF until April

The Abu Dhabi Securities Exchange (ADX) is delaying its first exchange-traded fund (ETF) until the second quarter due to market conditions, its chief executive said on Tuesday.

The ADX had already delayed the launch of ETFs from the end of 2008 to the first quarter of 2009, given the current market climate.

"We are hoping to have the first one (ETF) listed and traded in April," Tom Healy told Reuters on the sidelines of an economic conference.

ETF's are investment vehicles that hold assets such as stocks or bonds and trade at almost the same price as the net value of its underlying assets over the course of the trading day.

Healy said ADX was still planning to launch derivatives towards the end of this year or early next year. (Reuters)

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM