The Dubai Stock Exchange was founded on September 29, 2004. it is a limited liability company inside the Dubai International Financial Center. The Dubai Stock Exchange became fully functional after it received a license from the Dubai International Financial Center in September 26, 2005. There was no looking back after that. large companies such as the Credut Suisse, Deutsche Bank, HSBC , UBS AG and the Citibank.
The Dubai Stock Exchange started trading in index linked equity products . These products were also traded in other exchanges.
The Dubai Stock Exchange is fast growing and its growth is reflected in the increasing number of members in its board. It started with four members but now the membership has increased to 13. The Dubai International Financial Exchange aims at increasing the market capitalization by including 10 to 15 Initial Public Offerings .
The Dubai Stock Exchange offers the following services to its participants :
- One stop solution to trading
- Clearing and Settlement through the Electronic AtosEuronext Market Solutions NSC system. The members do not use a specific trading terminal as a technical connection is already is offered.
- The Dubai Stock Exchange lists securities from various countries.
- With the help of the Dubai Stock Exchange the international investors can invest in Middle East, North and South Africa, Turkey, Central Asia and India.
- To ease the transactions of the foreign investor, trading is denominated in the US dollars. Trading is also allowed in Euros and Sterlings on special requests.
- There are no limits on foreign ownership which is quite different from other independent exchanges.
- The Dubai Stock Exchange basically unites the Middle East Markets and the markets in London, Singapore and Hong Kong.
Products and services issued by the Dubai Stock Exchange
The listed products of the Dubai Stock Exchange are
- Ordinary shares listed by Kingdom Hotel Investments
- Global Depository Shares issued by Investcom
- The foreign investors participating in the Dubai Stock Exchange have the opportunity to invest in the Gulf Cooperation Council.