The Dubai International Financial Exchange (DIFX) has been admitted as an affiliate member of the International Organisation of Securities Commissions (IOSCO), a body that promotes high standards amongst regulators and leading stock exchanges around the world.
Nasser Alshaali, Chief Operating Officer of the DIFX, said: “The DIFX’s membership of IOSCO enables it to interact and cooperate with other leading exchanges and market regulators in supporting and constantly enhancing the integrity and efficiency of financial markets.”
This includes effective surveillance of securities transactions and enforcement of regulations.”
Other affiliate members of IOSCO include the New York Stock Exchange, the London Stock Exchange and Hong Kong Exchanges and Clearing.
About DIFX
The DIFX is the region’s first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent.
The exchange launched in September 2005 and currently has 13 Member banks – Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, EFG-Hermes, HSBC, KAS BANK, Morgan Stanley, SHUAA Capital, UBS, Merrill Lynch, Mashreq Capital (DIFC) and ABN AMRO.
Listings on the DIFX include Fortune Management Inc. (ordinary shares), Kingdom Hotel Investments (ordinary shares), Investcom (global depositary shares), Man Industries (global depositary receipts), Rana Sugars (global depositary receipts), MashreqBank (Euro Medium Term Notes), National Bank of Dubai (Euro Medium Term Notes), Ports, Customs and Free Zone Corporation (sukuk) and Deutsche Bank (certificates over indices).
The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority. www.difx.ae
