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Sunday, November 29 - 2009

German regulator allows brokers to trade directly on Dubai International Financial Exchange

  • United Arab Emirates: Sunday, November 25 - 2007 at 13:30
  • PRESS RELEASE

The financial services regulator in Germany has authorised brokers there to connect directly to the Dubai International Financial Exchange (DIFX) and trade securities on it.

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It is the fifth European country to allow brokers to trade directly on the DIFX, along with the Irish Republic, the Netherlands, the UK and Switzerland.

Per E. Larsson, Chief Executive of the DIFX, said:

"This agreement significantly strengthens the international links of the exchange, as Germany is Europe's largest economy with a vast pool of investors. These investors now have a new route to access the growing opportunities offered by the DIFX as the region's international exchange."


The decision by Germany's Federal Financial Services Authority (BaFin) covers brokers that are domiciled there and allows them to apply to the DIFX to become Members of the exchange.

The exchange currently has 19 Members including leading international and regional banks and brokers.

Hamed Ali, Executive Officer of the DIFX, said: "The DIFX has created links that enable all investors, whether international or regional, to trade easily on the exchange. To enhance these we look forward to reaching further agreements with regulators in other countries."
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About DIFX

The DIFX is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as international issuers that seek regional and international investment.

The exchange opened in September 2005 and currently has 19 Members - ABN AMRO, Arbuthnot Securities, Barclays Capital, Citigroup, Credit Suisse, Daman Securities International, Deutsche Bank, EFG-Hermes, Hichens, Harrison & Co, HSBC, ING Bank NV, Jefferies International, KAS BANK, Morgan Stanley, Merrill Lynch, Mashreq Capital (DIFC), NBD Investment Bank, SHUAA Capital and UBS.

Issuers on the DIFX: Equities - Albaraka Banking Group (ordinary shares), Boulder Steel (ordinary shares), Citigold Corporation (ordinary shares), Fortune Management (ordinary shares), Gold Fields (American depositary shares), Hikma Pharmaceuticals (global depositary receipts), Kingdom Hotel Investments (ordinary shares), Man Industries (India) (global depositary receipts), Monarch Gold Mining Company (ordinary shares), Rana Sugars (global depositary receipts); Sphere Investments (ordinary shares); Unigold Inc (ordinary shares); Bonds - DP World (Medium Term Notes), Dubai Holding Commercial Operations Group (Medium Term Notes), Kuwait Financial Centre S.A.K. (Closed) (Notes); MashreqBank (Medium Term Notes), National Bank of Dubai (Medium Term Notes); Islamic Products - Aabar Sukuk (Sukuk), Cherating Capital (Sukuk), DAAR International Sukuk (Sukuk), Dar Al Arkan International Sukuk (Sukuk), DIB Sukuk (Sukuk), DIFC Investments (Sukuk), Dubai World Sukuk (Sukuk), IIG Funding Ltd (Sukuk), Nakheel Development (Sukuk), Ports, Customs and Free Zone Corporation (Sukuk), TID Global Sukuk (Sukuk); Structured Products - Deutsche Bank, Merrill Lynch, Morgan Stanley

The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is owned by Borse Dubai Limited, a holding company which also owns the Dubai Financial Market. The DIFX is located in the Dubai International Financial Centre.

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