DFM launches new general index providing global best practice for indices, greater transparency for investors

DFM launches new general index providing global best practice for indices, greater transparency for investors

DUBAI, 21st November, 2022 (WAM) -- 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 percent 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 said, "This significant milestone underscores DFM's commitment to constantly develop its services as part of Dubai's strategy to develop its financial markets. The index transformation caters to the