Deputy CEO plans to develop the market from domestic to international using the NYSE platform
Qatar's bourse may begin trading bonds, sukuk and exchange traded funds (ETFs) in the first quarter of next year, the exchange's deputy chief executive said on Tuesday.
The Gulf state's bourse embarked on a revamp last year when it entered a strategic partnership with NYSE Euronext. It is currently 20 percent owned by the Big Board parent.
"They are our partners and have 20 percent of the bourse. From an administrative side, we will develop the market from a domestic market to international one using the NYSE platform," Saif Al Mansoori said on the sidelines of a conference in Beirut when asked about further plans to develop the exchange.
Qatar, along with the UAE, is currently considered a frontier market, but remain under review for a possible upgrade to emerging markets, index compiler MSCI said in June.
The world's top exporter of liquefied natural gas, Qatar is set to see double digit growth this year, well ahead of the rest of the Gulf region, due to the expansion of its gas facilities and government spending. (Reuters)