Sat Jun 28, 2008 7:43am EDT
 
Investors will have the option to trade on individual stocks or stocks representing the whole index, as well as future contracts, said senior vice president of innovation and development Armen Papazian.

The bourse is also expecting more initial public offerings (IPOs), Papazian said, without giving details.

Dubai-based jewellery firm Damas said this month it plans to raise as much as $355 million in an IPO and list its shares on the DIFX in July. [ID:nL1841958]

Dubai has set up the DIFX, which is 33 percent owned by exchange group Nasdaq OMX Group (NDAQ.O: Quote, Profile, Research, Stock Buzz), to encourage local companies to sell shares to the public and for foreign companies to tap growing regional wealth.

It is the only exchange in the Gulf Arab region open to issuers and investors from almost all nationalities and is aiming to fill a trading time gap between London and Singapore.

(Reporting by Ola Galal; Editing by Jason Neely)

 

DUBAI, June 28 (Reuters) – The Dubai International Financial Exchange (DIFX) plans to launch derivatives trading in the second half of this year, a bourse official told Al Arabiya television on Saturday.

 

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