The Abu Dhabi Securities Exchange is "positive" about MSCI Inc upgrading the UAE's bourses to emerging market status this year, said Rashed Al Beloushi, deputy chief executive officer.
The country's bourses have met most requirements for the MSCI upgrade and the so-called delivery-versus-payment remains the main criteria to be implemented, Al Baloushi said in a telephone interview yesterday. Abu Dhabi's exchange is coordinating with the Dubai Financial Market to implement DvP, he said.
MSCI classifies six of the Gulf's seven bourses, including those in the UAE and Qatar, as frontier markets. Saudi Arabia's market is not categorised.
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