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Sunday, 9 July 2017

Dubai stock market targets short-selling by year end - The National

Dubai stock market targets short-selling by year end - The National:

"Dubai's stock exchange hopes to introduce regulated short-selling this year and real estate investment trusts (Reits) next year, as part of a 2021 strategy aimed at diversifying asset classes to elevate the bourse to developed market status, a bourse official said Sunday. The Dubai Financial Market announced in January plans to introduce covered short-selling - the practice of selling borrowed shares in the hope of buying them back later at a lower price - in a few months, following in the foot-steps of Abu Dhabi Securities Exchange, which also has revealed plans to start short-selling services gradually. “We are amending the rules and are in contact with (market regulator) the Securities and Commodities Authority (SCA), and once we are ready with the system we will start,” said Hassan Al Serkal, executive vice-president of the DFM."



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