DFM welcomes Morgan Stanley's decision to upgrade UAE markets to "Emerging Markets"

Dubai, June 13, 2013 (WAM) - Dubai Financial Market (DFM) welcomed the upgrade of UAE markets to the "emerging markets" category under the annual periodic review for the classification of global markets by Morgan Stanley Capital International, MSCI. Essa Kazim, Chief Executive Officer and Managing Director of Dubai Financial Market, said in a press statement that this important step represents a recognition of the global institutions of what has been accomplished by the Dubai Financial Market, which played over the past three years a pivotal role in the development of the structure of the domestic market in collaboration with the Securities and Commodities Authority. Kazim pointed out that the DFM has spared no effort and has taken steps to develop the necessary frameworks for the development of the market structure on more than one level, including the application of the mechanism of "delivery versus payment" since 2011. – Emirates News Agency, WAM