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Article: Dow Jones GCC Titans 50 to underlie UAE's first ETF.
- Article from:
- CPI Financial
- Article date:
- October 13, 2009
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Byline: news@cpifinancial.net (Staff Writer)
The index will serve as the basis for an exchange-traded fund (ETF), to be listed at the Abu Dhabi Securities Exchange. This ETF based on the GCC blue-chip index will be the first one available 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 leading component stocks traded in the six Gulf Cooperation Council (GCC) member states: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.
"The Gulf region is one of the world's fastest growing and most sought after ...