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FTSE Group opens Dubai office in Mideast push

Published: Updated:

FTSE Group, a British provider of indexing and analytical solutions, has opened offices in the Dubai International Financial Centre, the DIFC said yesterday.

The group intends to use the new headquarters as a hub for expanding its Middle Eastern and African business. The office marks its 13th across Asia Pacific, Europe and the Americas.

“FTSE already works closely with domestic exchanges, market authorities and asset managers in the Middle East and Africa to support the development and capacity of domestic financial markets.

This new office will further strengthen our ability to support our growing customer base in the region,” Jonathan Cooper, the Managing Director of FTSE’s Middle East and Africa branch, told a press conference on Tuesday, according to a DIFC statement.

The opening follows the news of the UAE’s upgrade to ‘emerging market’ status by MSCI, which allocates classifications according to factors like economic development and bourse trading volumes.

FTSE currently classes the UAE as ‘secondary emerging,’ in its Global Equity Index Series (GEIS), the final category of its system behind ‘advanced emerging’ and ‘developed.’

Qatar has also seen its status upgraded by MSCI, whilst Morocco and Greece were both cut to ‘frontier’ and ‘emerging’ markets respectively.