|12-21-2014, 10:08 PM||#1|
Bahrain, Dubai bourses looking to ease share transfer
Bourses of Dubai and Bahrain are set to introduce a new and easier way to transfer shares between their two main stock exchanges next year, the Dubai Financial Market (DFM), Dubai’s main operator said on Saturday.
"It has been agreed to introduce the new electronic system during the second half of 2015, enabling swift share transfers to be executed during the official working hours of the exchanges," it said.
The news transfer system will not need official correspondence considering the transfer, endorsement and validation of shares, the DFM added.
Dubai’s stock exchange is notably more liquid than that of Bahrain, although a bit more volatile, as we have seen throughout 2014.
Gulf Finance House, Al Salam Bahrain Bank and Arab Insurance Group are three Bahraini companies listed on the DFM. These three shares contributed to 10% of the DFM’s traded value in 2014, according to the DFM.
The simplified transfer of shares between the two bourses would emphasize the performance of respective shares in each bourse according to market and growth fundamentals, and it should ease the volatility of both markets.
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