Dubai Financial Market (DFM) launched a trading platform for exchange-traded funds (ETFs), the first of its kind in regional capital markets, yesterday. Afkar Capital listed the first ETF fund on DFM platform under the symbol UAETF and announced signing Al Ramz Capital as a new Authorized Participant (AP) for it, bringing the total number of APs to four. Afkar also appointed Beltone Financial as a Foreign Liquidity Provider. Existing UAETF Authorized participants include EFG Hermes Brokerage UAE, Al Safwa Mubasher Financial Services, and NBAD Securities. “The addition of a new AP and the appointment of a foreign market maker will further facilitate the creation and redemption of UAETF’s shares, keeping its fair value in check, and will allow the firm to efficiently meet the growing market demand for the ETF,” DFM says.

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