Unveiling of the Dow Jones DIFC Arabia Titans 50 index is slated for the first quarter of 2004. The index, which is based on the stock prices of 50 leading regional companies, was developed jointly by Dow Jones Indexes and the Dubai International Financial Centre in collaboration with the Dubai based investment bank SHUAA Capital, according to a news release.
Once launched, the Dubai Regional Exchange, a core component of the Dubai International Financial Centre, would be able to list financial products based on the index. SHUAA Capital, is the first investment bank that has expressed an interest to license and introduce a financial product based on the index, Dow Jones said.
The Dow Jones DIFC Arabia Titans 50 will be part of the Dow Jones Titans series of indices. The series comprises the Dow Jones Global Titans 50, Dow Jones Sector Titans 30 with 18 global sector indices, Dow Jones Asian Titans 50, 14 Dow Jones Country Titans indices (that cover Europe, Asia, and North America), Dow Jones Tiger Titans 50 and Dow Jones Islamic Titans 100.