The Dubai Financial Market, DFM, today welcomed the listing of Afkar Capital's Exchange Traded Fund (ETF), (Afkar S&P UAE UCITS ETF) under the trading symbol "UAETF".

The fund has been designed to replicate the S&P UAE BMI Liquid 20/35 Capped Index, which includes the largest stocks by capitalisation in the UAE.

The reference price of the ETF units will be updated on a daily basis prior to the trading session as per the up-to-date indicative Net Asset Value (iNAV). The price limits of 15 percent up and 10 percent down are applied on the ETF units from the first day of listing.

The fund is regulated under the European Union's UCITS Regulation and is governed by the rules and regulations of the Securities and Commodities Authority (SCA), the DFM, the Abu Dhabi Global Market ADGM, and the Central Bank of Ireland.

Source :WAM