Dubai-Mubasher: Dubai Financial Market (DFM) witnessed the listing of Afkar Capital’s Exchange Traded Fund (ETF) under the trading symbol “UAETF”, according to a bourse statement.
The fund is designed to replicate the S&P UAE BMI Liquid 20/35 capped index, which includes the biggest UAE stocks by capitalization.
The price limits of 15% up and 10% down are applied on the ETF units from the first day of listing.
“The fund is regulated under the European Union’s UCITS Regulation and is governed by the rules and regulations of the Securities and Commodities Authority (SCA), the DFM, the Abu Dhabi Global Market ADGM, and the Central Bank of Ireland,” DFM noted.
ETF is the “first liquid, fully fungible, fully tradeable and transparent exchange-traded fund” listed in the Middle East under the UAE's new regulations, Afkar Capital earlier said in a statement.
