The UAE market regulator will launch draft rules on short-selling "very soon", the minister of economy said on Wednesday, the latest step aimed at boosting dwindling trade and helping attract foreign investors.
Short selling is not permitted on the UAE's two markets - Dubai Financial Market DFM.DU .DFMGI and Abu Dhabi Securities Exchange .ADI -- but some international firms operating outside the jurisdiction of the regulator, the Securities and Commodities Authority (SCA), provide short selling against their own inventory, analysts said.
"The SCA is conducting research on short selling, lending and borrowing securities and options and the SCA is about to launch a draft of this legislation very soon," Sultan bin Saeed al-Mansoori said in a speech in Abu Dhabi.
No comments:
Post a Comment