ADX gears up for introducing ETF

Abu Dhabi Securities Exchange Abu Dhabi Securities Exchange is set to introduce a very useful financial tool in the country which would help to enhance investment opportunities in the country. The proposed Exchange Traded Fund (ETF) would be introduced in co-operation with a leading lender of Abu Dhabi.

Rashid Al Baloushi, the Deputy CEO of ADX, told, "We have readied well for the launch of the Exchange Trading Funds (ETFs). We would have listed those funds, which are very important financial tools."

Al Baloushi said that initiatives for ETFs were started last year but the breakout of global financial crisis added delay to its introduction in the country. The exchange itself took a slew of measures for marketing ETFs making people aware of its benefits and change in investment environment after the introduction of combined investment tool.

Meanwhile, Khaled Khalfan Al Suwaidi, Head of Listed Companies Department is going to take part in the two-day 2010 Middle East Securities Forum in Doha, Qatar where is likely to market Abu Dhabi as a suitable investment destination.