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18 April 2024

DIFX to add ETFs and derivatives

By Staff Writer




The Dubai International Financial Exchange (DIFX) plans to widen the range of investment opportunities, according to a top official.

“As well as equities and structured products listed currently, the DIFX is preparing to list new asset classes such as exchange-traded funds (ETFs) and derivatives to radically widen the range of investment opportunities,” said DIFX Chief Executive Per E Larsson.

Larsson made the statement, while welcoming MAC Capital as DIFX’s new trading member. 

“We expect a number of high-quality primary and secondary listings to follow on the DIFX and would like to build on this momentum. We are one of a handful of brokers that has direct access to the three UAE exchanges. The DIFX itself has generated considerable interest with the listing of DP World in November last year. We have already witnessed a rapid growth in interest from local and international investors alike,” said MAC Group Chairman and CEO Robert W McMillen McMillen.

With the entry of MAC Capital, the total number of trading members at the DIFX is now seven.

MAC, a wholly-owned subsidiary of McMillen Advantage Capital Limited (MACL), will trade shares and other securities on the DIFX. “MAC’s arrival opens a new gateway for regional and international investors to reach the region’s rapidly growing international stock exchange,” said a statement from DIFX.

MAC is the flagship of the MAC Group, a global collaboration of financial institutions and prominent business people. The MAC Group is a specialist in cross border transactions and a leader in UAE equity research. It is also a prominent equity broker on all UAE markets.
“Our category two licence within the Dubai International Financial Centre (DIFC) allows us to assist clients in the public markets through listings, public offerings, and underwriting; and in the secondary market through technical research, and securities brokerage,” said McMillen .

MACL’s shareholders include international stock brokers, private funds and private banks. “MAC has a focus on cross-border transaction flows and we have seen a tremendous interest from our foreign clients, who wish to raise capital from investors in the Middle East and to issue secondary listings on the DIFX,” said MAC Director Gerhard Hametner.

Despite the recent market turmoil around the world, the fundamental growth characteristics of companies in the Middle East remain strong,” he added.