Dubai International Financial Exchange chief executive Per Larsson has told local reporters that the exchange plans to separate its listed products into segments in a bid to boost volumes and improve investor interest.
While Larsson was unable to give details of specific products, he confirmed the exchange has a ‘very interesting’ pipeline in the next six to nine months, including structured products, fund products, Reits and more sukuk (Islamic certificate) listings, as well as primary and secondary listings. Larsson made the announcement as the world's fourth biggest gold producer South Africa’s Gold Fields announced its ADR will list on the year-old DIFX.
"The challenge in 2007 is to launch to clearly define the framework of each market, like in Europe ... to launch business rules, listing rules, educate the investors," said Larsson, who is a derivatives expert and former head of the Swedish-based exchange and associated companies OM Group (now OMX). He took up his post at DIFX in July.
DIFX is the world's largest exchange for Islamic-compliant bonds Sukuk with a listed value of $4.11bn listed value.
“We will intensify our focus on this rapidly growing sector,” Larsson told reporters. He was unable to return calls as SRP went to press.