The move to full week pricing reflects Standard & Poor's commitment to providing its growing regional client base with reliable and timely index data that will enable them to measure the performance of publicly listed companies, support the issuance and trading of new index-linked investment products and foster the development of exchange traded funds in the Gulf.
Standard & Poor's will begin publishing end-of-day index data for the six GCC countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates from August 16th 2008, becoming the first international index provider to offer investors full week calculations for Gulf markets.
Standard and Poor's Emerging Market Database indices were the first to focus on the Gulf region with the launch of the S&P/IFCG Saudi Arabia in 1997.
Historical index data for each GCC market, and a composite index for the GCC as a whole, is available from 2003.
Each index covers an aggregate market capitalisation of over 80% of all exchange-listed shares in each country.
In 2007, Standard & Poor's became the first index provider to launch Shariah-compliant indices for the GCC and individual GCC markets.
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S&P introduces 7-day pricing for Gulf indices
- Middle East: Monday, June 23 - 2008 at 14:30
- PRESS RELEASE
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Standard & Poor's, the world's leading index provider, today announced plans to introduce 7-day index calculations on its range of benchmark and investable equity indices for Gulf Cooperation Council (GCC) markets.
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Posted by Eman HassanMonday, June 23 - 2008 at 14:30 UAE local time (GMT+4)
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About Standard & Poor's Index Services
Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.5 trillion invested and $4.85 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices.
About Standard & Poor's in the Gulf Cooperation Council
Standard & Poor's is the leading provider of financial market intelligence to customers in the Gulf's credit risk management, wealth management, and data and information markets. Since entering the region in the early 1990's, Standard & Poor's has become the largest provider of credit ratings in the G.C.C, rating more than 100 issuers. In equity markets, Shariah-compliant versions of Standard & Poor's global and regional equity market indices - S&P 500, S&P Europe 350, S&P Japan 500 and S&P/IFCI GCC - have created new opportunities for Islamic investors to benchmark their international investments and for asset managers to create new investment products serving the Islamic community. Standard & Poor's Fund Services launched a qualitative fund management rating service for regional asset managers in 2007. For further details on Standard & Poor's regional
For more information contact:
Matthew McAdam
Communications, London
Standard & Poor's
+44 20 7176 3541
Dave Guarino
Communications, New York
Standard & Poor's
+1 212 438 1471
Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.5 trillion invested and $4.85 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices.
About Standard & Poor's in the Gulf Cooperation Council
Standard & Poor's is the leading provider of financial market intelligence to customers in the Gulf's credit risk management, wealth management, and data and information markets. Since entering the region in the early 1990's, Standard & Poor's has become the largest provider of credit ratings in the G.C.C, rating more than 100 issuers. In equity markets, Shariah-compliant versions of Standard & Poor's global and regional equity market indices - S&P 500, S&P Europe 350, S&P Japan 500 and S&P/IFCI GCC - have created new opportunities for Islamic investors to benchmark their international investments and for asset managers to create new investment products serving the Islamic community. Standard & Poor's Fund Services launched a qualitative fund management rating service for regional asset managers in 2007. For further details on Standard & Poor's regional
For more information contact:
Matthew McAdam
Communications, London
Standard & Poor's
+44 20 7176 3541
Dave Guarino
Communications, New York
Standard & Poor's
+1 212 438 1471
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