DUBAI, March 5 Dubai Financial Market (DFM)
, the emirate's main stock exchange, launched a trading
platform for exchange-traded funds (ETFs) on Sunday in an effort
to encourage the listing of more such funds by improving
The market currently lists just one ETF, Afkar Capital's S&P
UAE UCITS fund, which invests on the Abu Dhabi Securities
Exchange and NASDAQ Dubai as well as DFM itself. It replicates
the S&P UAE BMI Liquid 20/35 Capped Index, which includes the
largest stocks by capitalisation in the United Arab Emirates.
The new platform, which DFM described as the region's first
of its kind, aims to make trading smoother and more efficient.
Afkar Capital said on Sunday it had appointed Egypt's Beltone
Financial as foreign market maker for its fund.
(Reporting by Andrew Torchia, editing by Louise Heavens)