ADX sets sight on first ETF launch

Abu Dhabi Securities Exchange (ADX) hopes to list its first exchange-traded fund (ETF) by the end of the year, as the Securities and Commodities Authority (SCA) refines the regulations to list ETFs in the United Arab Emirates (UAE).

ADX has encouraged the established of collective investment schemes in UAE, such as ETFs, says Tom Healy, chief executive of ADX.

ADX will host a conference on ETFs on October 19 and 20 in Abu Dhabi, under the title ‘capitalising on growth, globalisation and evolution,’ to explore how investors can use ETFs to diversify portfolios, spread risk, and consider them in light of Islamic principles.

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