Dubai - Mubasher: Dubai Financial Market (DFM) has launched its new general index culminating the successful accomplishment of a comprehensive transformation of its indices’ methodology.
The developed indices provide various market participants with world-class investable and tradeable benchmarks for the DFM equity market. S&P Dow Jones Indices (S&P DJI) acts as the calculation agent of the indices, according to a press release.
The new general index provides a series of enhancements for investors, including 10% threshold caps, quarterly rebalancing, independent methodology oversight, and index calculation based on actual free-float. The transformation also includes eight sectoral indices as well as the DFM Sharia Index.
A special bell-ringing ceremony was hosted by the DFM to celebrate this milestone in the presence of senior officials from both sides.
Hamed Ali, CEO of DFM and Nasdaq Dubai, said: "The index transformation caters to the ever-growing demand from various investors’ categories towards DFM’s investment opportunities whether to participate in the thriving IPOs that placed us at the center stage globally or to trade on the market. DFM indices align with best practices, providing its expanding base of local and international investors with transparent indices for both equities and equity futures."
Charbel Azzi, Head of Asia Pacific, Middle East, Africa at S&P DJI, commented: “We are very pleased that DFM has selected S&P Dow Jones Indices as the calculating agent for its indices. Our aim is to offer rules-based and robust index solutions that suit the needs of the local markets and enable market participants to meet their investment objectives.”