The Qatar stock exchange moved a step closer to acquiring emerging market status from influential index compiler MSCI by adopting a standard international settlement system for stock trading.
The bourse, under review by the MSCI for an emerging market tag for the last two years, said effective April 11 it will switch to a “delivery versus payment” (DvP) and will seek to implement reforms in the equity markets throughout the year.
“These changes...attract more participants when achieving the ultimate goal of upgrading the classification of Qatar to emerging market status in MSCI Index,” said Nasser Al-Shaibi, chief executive of Qatar Financial Markets Authority, in a statement.
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