Tom Healy, the CEO of the Abu Dhabi Securities Exchange, has been making noise for a few months now about new exchange-traded funds: perhaps a couple funds that invest in Asian shares, though the details haven't been pinned down quite yet.
Healy said today, though, that he was "hoping" to start trading in ETFs on the ADX by the end of Ramadan, or near the end of September, according to a Reuters story. Interestingly, he also said that the exchange aimed to start trading in derivatives by "the middle of 2010".
Increasing the selection of instruments available for trading on the exchange has been a key aim of Mr Healy's since he became CEO in September of 2007. The point, of course, is to build the exchange into a regional powerhouse by making it a one-stop shop for traders and brokers.
ETFs coming in September, Healy says
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