Arab Today, arab today kuwait bourse targets derivatives
Last Updated : GMT 16:18:09
Arab Today, arab today
Arab Today, arab today

Kuwait bourse targets derivatives

Arab Today, arab today

Arab Today, arab today Kuwait bourse targets derivatives

Kuwait City - Aranstoday

Kuwait\'s stock exchange will clamp down on trading \"misbehaviour\" and offer investors a fairer playing field in the biggest overhaul of its trading system in nearly two decades, a senior bourse official said yesterday. The exchange plans to introduce the \"X-stream\" trading system on May 13, backed by The Nasdaq OMX Group. It will pave the way for trade in financial instruments such as Islamic bonds and exchange-traded funds (ETFs). It will also keep a closer eye on possible cases of insider trading or price manipulation using an integrated surveillance system. \"I hope that in the first quarter of next year we will switch on the derivatives part of the X-stream system. We will start with Kuwaiti derivatives,\" Kuwait Stock Exchange Projects Manager Essam Al Usaimi told Reuters in an interview. The \"Kuwaiti derivatives\" include futures and options now traded on third-party systems. International products such as Islamic bonds and ETFs will be introduced later, he said. One of the aims of the new platform, which cost around 18.3 million dinars (Dh67 million), is to stamp out dubious practices in one of the region\'s oldest exchanges. A surveillance system will collect real-time data and analyse it for any signs of wrongdoing. \"In every exchange there is always misbehaviour of traders, whether it is based on insider information, or speculation... Every country has unique players. We are going to tune our surveillance system to catch the Kuwaiti behaviour,\" Al Usaimi said. The new platform will scrap the lots system, allowing investors to trade as little as one share at a time rather than being forced to make bulk orders and levelling the field, he said. It will also adopt an auction for closing prices. Investors will be able to place orders for up to 90 days in the future rather than requiring trades to be executed on the same day. The new system will open up the exchange for greater trade capacity and Al Usaimi said he hoped the platform would enliven trade. The exchange sometimes only sees 3,000 to 4,000 trades a session while 27,000 is a top day, Al Usaimi said. \"We have to put a projection over five years. We do not want to run out of gas after one year... This is in anticipation of increased trading after we do away with the lots,\" he said. The stock exchange, which the government plans to privatise, will also introduce a blue-chip index of 15 top companies based on trade volume or market capitalisation. Kuwait is home to some of the largest investment groups in the Gulf such as Kuwait Projects Co (Kipco) and Global Investment House. The bourse suffered heavy losses during the global financial crisis spurring the introduction of a market watchdog, which has recently ordered several companies to delist after they failed to report earnings on time. Starting as a fledgling, unregulated market in the 1960s, the exchange was formally set up in 1984 and introduced its first trading electronic system in 1995.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kuwait bourse targets derivatives Arab Today, arab today kuwait bourse targets derivatives

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market

GMT 10:17 2017 Friday ,24 February

Dow stands out as global stocks tread water

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 16:08 2017 Thursday ,23 February

BHB holds VAT seminar

GMT 13:40 2017 Thursday ,23 February

Muscat Securities Market loses 17 points

GMT 13:18 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 05:51 2017 Thursday ,23 February

Saudi stocks edge up as Brent futures rebound
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday