Dubai Financial Market
| Dubai Financial Market | |
|---|---|
| legal form | Corporation |
| ISIN | AED000901010 |
| founding | March 26, 2000 |
| Seat |
Dubai , United Arab Emirates
|
| Website | www.dfm.ae |
The Dubai Financial Market (DFM) ( Arabic : سوق دبي المالي) is a stock exchange in Dubai in the United Arab Emirates . The DFM is one of three exchanges in the UAE. The Abu Dhabi Securities Exchange (ADX) also lists mostly domestic companies, and NASDAQ Dubai was established to trade in international stocks. DFM and ADX are overseen and regulated by the Securities and Commodities Authority (SCA). The SCA is empowered to set laws and standards that DFM and ADX must adhere to. SCA's job is to ensure that the laws are followed by the stock exchanges and to protect the rights of investors, brokers and publicly traded companies. On the other hand, NASDAQ Dubai is regulated by an independent supervisory authority, the Dubai Financial Services Authority (DFSA), according to international standards. This corresponds to the US Securities and Exchange Commission . In contrast to DFM and ADX, NASDAQ Dubai is an electronic exchange without a floor.
The DFM was established as a public body with an independent legal personality on the basis of Decree No. 14/2000 of the Government of Dubai and began operating on March 26, 2000. On December 27, 2005, the Dubai Executive Council decided to convert the DFM into a public company with a capital of 8 billion UAE dirhams , divided into 8 billion shares. 20% of the capital, divided into 1.6 billion shares, was offered in an IPO. The rest continues to be controlled by the Dubai government.
In July 2018, 63 companies with a value of 104.4 billion US dollars were listed on the stock exchange. The market capitalization was thus slightly below that of the Abu Dhabi Securities Exchange .
Individual evidence
- ↑ About DFM. Retrieved December 21, 2019 .
- ↑ Statistics | The World Federation of Exchanges. Retrieved December 21, 2019 .