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UAE exchanges to operate DVP service

12 April 2011

The Emirates Securities and Commodities Authority has announced that stock markets in the UAE are to start operating the Delivery Versus Payment (DVP) service from April 28, 2011. The lack of this service was one of the major observations for boosting chances for upgrading UAE markets to the emerging market ranking of the MSCI, when the latter reviewed its ranking of markets in 2010. "We hope the new development would contribute in uplifting our markets to the emerging market status, which will help attract more international mutual funds to our markets," Essa Kazim, chief executive of Dubai Financial Market said.

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