We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 19 Jan 2009 02:14 AM

Font Size

- Aa +

ETF markets to be developed on ADX

The Abu Dhabi Securities Exchange (ADX) plans to develop markets for exchange traded funds this year.

In response to declining trading volumes last year as foreigners reduced their investments, the Abu Dhabi Securities Exchange plans to develop markets for exchange traded funds, debt securities and derivatives.

Total traded volumes on the exchange fell 4 percent to 49.9 billion shares from the year-earlier period, while the percentage of stocks owned by foreigners dropped to 9 from 13 in 2007, the bourse said in an e-mailed statement.

The total value of equities traded in 2008 increased 32 percent to 232 billion dirhams ($63 billion) compared with 175 billion dirhams in the year earlier. The real-estate industry accounted for most of the trading value.

“Our priorities for 2009 are to develop markets for Exchange Traded Funds, debt securities and derivatives as well as continuing to enhance transparency and the regulatory environment,” Chief Executive Officer Tom Healy said in the statement.

Arabian Business digital magazine: read the latest edition online