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Morgan Stanley an Approved Applicant for Dubai Gold Securities
- United Arab Emirates: Tuesday, August 25 - 2009 at 11:36
Morgan Stanley has become an Approved Applicant in connection with the ongoing offering on Nasdaq Dubai of Dubai Gold Securities (DGS). The only Shariah-compliant ETC in the MENA region, the Participant Agreement is part of DGS LLP's strategy of having leading financial institutions participate in the primary market for Dubai Gold Securities. The agreement lets Morgan Stanley create Dubai Gold Securities after it has deposited the physical gold bullion that backs every security in issue with the Custodian - in this case HSBC Bank USA. Similarly, Morgan Stanley will be able to redeem Dubai Gold Securities and take physical of the gold bullion.
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StaffTuesday, August 25 - 2009 at 11:36 UAE local time (GMT+4)
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