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Article: Dow Jones GCC Titans 50 to underlie first exchange-traded fund in UAE.
- Article from:
- Albawaba.com
- Article date:
- October 13, 2009
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Dow Jones Indexes, a leading global indexprovider, today announced that it licensed the Dow Jones GCC Titans 50 TotalReturn Index with Saudi Local UAE Index (Dow Jones GCC Titans 50), the firstindex authorized by Tadawul to include Saudi Arabian stocks, to NationalBank of Abu Dhabi (NBAD). The index will serve as the basis for anexchange-traded fund (ETF), to be listed at the Abu Dhabi SecuritiesExchange. This ETF based on the GCC blue-chip index will be the first oneavailable to market participants in the United Arab Emirates (UAE) market.NBAD intends to launch the ETF soon, pending regulatory approval.
The Dow Jones GCC Titans 50 measures the performance of 50 ...