Dow Jones GCC Titans 50 to underlie first exchange traded fund in UAE

Dow Jones Indexes, a leading global index provider, today announced that it licensed the Dow Jones GCC Titans 50 Total Return Index with Saudi Local UAE Index (Dow Jones GCC Titans 50), the first index authorised by Tadawul to include Saudi Arabian stocks, to National Bank of Abu Dhabi (NBAD).

The index will serve as the basis for an exchange-traded fund (ETF), to be listed at the Abu Dhabi Securities Exchange.

This ETF based on the GCC blue-chip index will be the first one available to market participants in the United Arab Emirates (UAE) market. NBAD intends to launch the ETF soon, pending regulatory approval.