Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai Financial Market issues Securities Lending and Borrowing rules  Join our daily free Newsletter

MENAFN - Khaleej Times - 01/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Dubai Financial Market, or DFM, the world's second best performing stock exchange in 2013, on Thursday took another key step in its efforts to further boost its profile by issuing Securities Lending and Borrowing (SLB) rules



The exchange said the move was in line with its constant efforts to enhance market infrastructure as per international best practices



SLB is a system in which traders borrow shares that they do not already own, or lend the stocks that they own but do not intend to sell immediately. Just like in a loan, SLB transaction happens at a rate of interest and tenure that is fixed by the two parties entering the transaction



DFM said the operational implementation of the SLB rules is targeted by the first quarter of 2014 and contingent on the readiness of market participants



As per the DFM SLB model, foreign securities lenders and borrowers may arrange loans based on international practices but will have to instruct local approved Lending/Borrowing Agents to move loaned securities, whereas local lending and borrowing business will be undertaken byapproved Lending/Borrowing Agents, which can either be local brokers, local custodians or any entities as may be approved by the Securities and Commodities Authority (SCA), DFM said in a statement




In the initial phase, securities lending and borrowing activities will be limited for market making activities and for settlement of failed securities delivery for DVP trades



Maryam Fekri, executive vice-president and chief operation officer, at DFM said SLB is a key market infrastructure for the development of other market products, including ETFs, that will help diversify the range of products to be offered.



Over the past years, DFM has taken numerous initiatives and implemented various market enhancements



"Certainly, these developments were highly recognised by local and international investors alike and played a pivotal role in the UAE market classification as "Emerging Markets" status by MSCI as well as S&P Dow Jones amongst other international index companies which reflect international investors' confidence in our markets and their satisfaction with what we have accomplished.

 


Khaleej Times




  MENA News Headlines
 May 31 2016 - Qatari Emir heads to Saudi Arabia to participate in GCC 16th Consultative MeetingEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DOHA, 31st May, 2016 (WAM) -- H.H. the Qatari Emir, Sheikh Tamim bin Hamad Al-Thani, left Doha on Tuesday morning for the Kingdom of Saudi Arabia to take ...

 May 31 2016 - DP World future leaders visit UAE Embassy in SingaporeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) SINGAPORE / DUBAI, 31st May, 2016 (WAM) -- Future leaders of DP World UAE Region met Abdullah Al Mandoos, Acting Charge d'Affaires of the UAE Embassy in ...

 May 31 2016 - UAE- EAD organises workshop on mercury emissions inventoryEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 31st May, 2016 (WAM) -- The Environment Agency - Abu Dhabi, EAD, yesterday organised a workshop to highlight the main findings of the Mercury ...

 May 31 2016 - UAE- Automation is key to sustaining operation efficiency and productivity: GASCOEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 31st May, 2016 (WAM) - Sultan Al Muhairi, Senior Vice President for Technical Affairs of Abu Dhabi Gas Industries, GASCO, has affirmed that ...

 May 31 2016 - UAE- UN envoy to Yemen says violations to cessation of hostilities in Yemen unacceptableEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUWAIT, 31st May, 2016 (WAM) -- UN Special Envoy to Yemen, Ismail Ould Cheikh Ahmed, has expressed concerns about violations of the cessation of hostilities ...

 May 31 2016 - UAE- Ajman sees 20% rise in visitors and tourism revenue in Q1 2016Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN, 31st May, 2016 (WAM) -- The number of guest arrivals into the Emirate of Ajman during the first quarter of the year increased by 20 percent, ...

 May 31 2016 - Saudi Foreign Minister hails strong ties with EUEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) JEDDAH, 31st May, 2016 (WAM) -- Saudi Foreign Minister, Adel bin Ahmed Al-Jubeir, has said that the Kingdom of Saudi Arabia and the European Union enjoy ...

 May 31 2016 - UAE- Mohammed bin Rashid arrives in JeddahEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 31st May, 2016 (WAM) -- His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, today arrived in ...

 May 31 2016 - Major fire at Indian arms depot kills 17Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) NAGPUR, Indian, 31st May, 2016 (WAM) -- At least 17 security personnel, including two young Army officers, were killed today in a major fire that broke out ...

 May 31 2016 - Secretariat of Abu Dhabi Executive Council delegation visits UAE-Jordanian Refugee CampEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 31st May, 2016 (WAM) -- A delegation from the General Secretariat of the Abu Dhabi Executive Council has visited the UAE-Jordanian camp for ...

more...


 





Google

Join Our Newsletter

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help