Dubai Financial Market, SIX forge partnership to market accessibility

The Dubai Financial Market (DFM) and SIX, the Swiss Financial Market Infrastructure Group, announced the signing of a collaboration agreement during the second edition of the Capital Market Summit.

The partnership underscores a shared commitment to exploring and implementing collaborative initiatives aimed at fostering mutual growth and innovation in the global financial landscape.

Furthermore, the agreement includes participation from the Dubai Central Securities Depository (Dubai CSD) and Dubai Clear under the umbrella of DFM.

The strategic partnership focuses on evaluating and implementing potential dual/cross-listing opportunities for products. The agreement looks to simplify the process for investors to transfer shares between exchanges making cross listings easier and help with fungibility of shares, in addition to sharing best practices and market data. Moreover, this initiative aims to broaden market access and bolster investment prospects for participants in both regions and markets. SIX and Dubai CSD will also work jointly towards establishing Central Securities Depository (CSD) links to facilitate share fungibility and cross border transfers.

The collaboration agreement was signed during the Capital Market Summit, in the presence of Bjørn Sibbern, Global Head Exchanges and Member of the Executive Board of SIX, and Hamed Ali, CEO of DFM and Nasdaq Dubai.

Hamed Ali, CEO of DFM and Nasdaq Dubai said, “The strategic partnership between DFM and SIX exemplifies our shared commitment to driving innovation and fostering growth in the global financial landscape. Through collaborative initiatives, we aim to unlock new opportunities, enhance market efficiency, and strengthen ties between our vibrant financial ecosystems.”

Bjørn Sibbern, Global Head Exchanges and Member of the Executive Board of SIX said, “SIX – already providing a very international environment and being home of many multinational companies – continuously strives to expand and improve its range of international products and services.”

“With the collaboration with Dubai Financial Markets, we are excited to look at broadening the options of companies to raise capital and tap into additional, deep pools of capital as well as facilitating cross border transfers and share fungibility.”

In tandem, DFM and SIX will introduce companies and issuers to the advantages of each market and provide them with access to growth opportunities and services. Additionally, the exchanges will collaborate on identifying opportunities in areas such as market data and post-trade services, striving to drive innovation and foster market development.

NEW DIGITAL APP: On the second day of the successful Capital Market Summit, the Dubai Financial Market (DFM) announced the launch of the upgraded stand-alone iVestor App, a digital platform set to offer digital financial management for investors. The iVestor App offers a comprehensive range of features to make investment and money management more accessible, efficient, and engaging for retail investors.

The iVestor app complements Arena, the integrated capital raising platform for private investments which debuted on the first day of the summit on May 1. ARENA offers a private offering alternative to IPOs for family businesses, growth companies, and private companies, providing them access to capital through diverse assets including equity and debt with plans to introduce additional asset classes.

The iVestor app allows direct subscription in IPOs and Arena opportunities and underscores DFM’s commitment to enhance investment accessibility and efficiency in the region. Moreover, the app provides investors with a convenient snapshot of their securities portfolio with DFM and their market value.

Developed in collaboration with Emirates NBD and Network International, the iVestor card initially introduced in 2010, improved the process of dividend receipt for investors. Today, the newly evolved iVestor App expands its functionality empowering users with a comprehensive suite of features designed to streamline financial management.

The app allows investors to onboard seamlessly, subscribe to both public and private offerings, track spending, monitor their securities portfolio and conveniently manage dividends – all through their smartphones.

Additionally, the app facilitates easy top-ups and transfers, allowing users to send and receive money between iVestor accounts in just a few clicks. Users can create saving goals with automated actions , aligning with their financial objectives and apply for Virtual cards for secured online shopping. Investor’s can also onboard their children on iVestor and help them build their financial knowledge through IPO investments and track their spending within the configured limits.