Investors are hoping that impending changes in stock market regulations may improve the UAE's chances for a potential upgrading to emerging-market status by the index compiler MSCI.
The UAE's Securities and Commodities Authority on Monday said it would consult with banks and brokerages until next Thursday on the new regulations, which will cover market making, securities lending the provision of liquidity and short selling.
"What the UAE is trying to do is tick all the boxes for MSCI," said Abdel Hadi Al Sadi, the chief operating officer of AlRamz Securities in Abu Dhabi. "It'll give them a better chance for the markets to be upgraded."
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