Abu Dhabi: Looking to add derivatives trades | Financial Services | UAE: Abu Dhabi | Oxford Business Group:
"As Abu Dhabi looks to develop its capital markets, it has again raised discussions of establishing a Gulf Derivatives Exchange, while an upgrade for the UAE to emerging market status is likely to boost the bourse’s international profile and attract more institutional investors.
The GCC-wide exchange was first proposed nearly a decade ago but was shelved in the wake of the global financial crisis, in part because risky derivatives trades were viewed as a main cause of the economic collapse.
"As a result [of the crisis] we decided to re-prioritise and shift [the exchange] back to its proper time. We're not close to it now, and we're delaying it until it's the right time,” Rashed Al Baloushi, the CEO of the Abu Dhabi Securities Exchange (ADX), told local media in 2010."
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