UAE bourses should unify back offices -Abu Dhabi CEO

ABU DHABI Sun Feb 16, 2014 4:26am EST

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ABU DHABI Feb 16 (Reuters) - Stock markets in the United Arab Emirates should unify their back office operations and processes for settlement and regulation, the chief executive of the Abu Dhabi Securities Exchange said on Sunday.

Other bourses in Gulf Cooperation Countries could unify their back offices with the UAE exchanges later, depending on the need, Rashed al-Baloushi told a news conference at a financial event in the UAE capital.

He did not say when his proposal for the UAE markets might take effect, or how likely it was to happen. (Reporting by Stanley Carvalho; Writing by Andrew Torchia; Editing by David French)

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