Nov 08 2011 |
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SCA proposes new rules on market making and short-selling
By Vicky KapurFeedback and comments can be submitted until November 17
The SCA published a set of four draft regulations - in Arabic - on its website late last week and is seeking feedback from stakeholders and the general public on the same.
" SCA is pleased to announce to its stakeholder and the public, the posting of draft regulations on the market making, security lending and borrowing, short selling and liquidity providers," the regulator said in an online statement.
The Dubai Financial Market ( DFM ) had announced earlier this year that it was gearing up for the introduction of 'short-selling' and 'securities borrowing and lending' by the end of 2011 while announcing its full readiness to introduce the new settlement mechanism 'Delivery versus Payment' (DvP).
With MSCI deferring its decision on the upgrade from March to end of 2011, the recent new draft proposals are being seen as initiatives that might just propel the local markets into the big league even though they are over and above the minimum MSCI requirements for an upgrade, which the local markets already meet.
© Emirates 24|7 2011
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