DFM launches new general index providing global best practice for indices and greater transparency for investors
- Date: 21-Nov-2022
- Source: Zawya
- Sector:Financial Markets
- Country:UAE
DFM launches new general index providing global best practice for indices and greater transparency for investors
- Special bell ringing ceremony to celebrate the milestone in the presence of senior executives from DFM and S&P Dow Jones Indices (S&P DJI)
Dubai: Dubai Financial Market (DFM) today launched its new general index culminating the successful accomplishment of a comprehensive transformation of its indices’ methodology. The developed indices provide various market participants with world-class investable and tradeable benchmarks for the DFM equity market. S&P Dow Jones Indices acts as the calculation agent of the indices.
The new general index provides a series of enhancements for investors including 10% threshold caps, quarterly rebalancing, independent methodology oversight and index calculation based on actual free-float. The transformation also includes eight sectoral indices as well as the DFM Sharia Index.
To celebrate this milestone, the DFM hosted a special bell-ringing ceremony in the presence of Hamed Ali, CEO of DFM and Nasdaq Dubai and Charbel Azzi, Head of Asia Pacific, Middle East, Africa at S&P DJI, as well as other senior officials from both sides.
Prior to shaping the final methodology, the DFM offered market participants the opportunity to counsel on its draft during a consultation period between 3rd and 17th of October 2022.
Hamed Ali, CEO of DFM and Nasdaq Dubai, said: "This significant milestone underscores