DUBAI Jan 23 The United Arab Emirates'
financial market regulator has issued rules allowing the
issuance and trading of covered warrants, a step towards
developing its equities market.
The Securities and Commodities Authority set conditions for
banks and other companies to issue the listed, tradable
instruments, which give investors the right to buy or sell
stocks or other securities at specified prices.
The conditions, described in a statement posted on the SCA's
website (www.sca.gov.ae/) this month, include a licensing
regime for issuers of covered warrants and disclosure
The SCA also ordered studies of best international practice
so that regulations covering the listing of bonds on the
country's securities markets can be passed in the first half of
this year, the statement said, without elaborating.
(Reporting by Andrew Torchia; Editing by Mike Collett-White)