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Article: Dow Jones GCC Titans 50 to underlie first exchange-traded fund in UAE
- Article from:
- Al Bawaba
- Article date:
- October 13, 2009
CopyrightCopyright 2009 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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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
leading componentstocks ...