Dubai: Qatar Stock Exchange is closely working with companies inorder to increase its weightage on the MSCI, even as the traded value tripled after the MSCI happened last year, its chief executive officer told Gulf News on Wednesday.
The total volumes in value terms peaked at 1 billion Qatari Riyals, and have been in the range of 600-700 million Qatari Riyals per day after the reclassification, from 250 million Qatari Riyals before the upgrade, Rashid Bin Ali Al Mansouri, a board member and the chief executive officer of the Qatar Stock Exchange said.
“The investor base has widened. With this upgrade we managed to increase the traded volumes. Even the local investors came back to the market and got active after the upgrade,” Al Mansoori said.
“Next week, two more companies will get added on the MSCI index and we are working with our local companies to prepare them for inclusion and thereby increasing the Qatar’s share in the MSCI index. There is still room for us to increase,” Al Mansoori added.
Property developer Ezdan Holding and Qatar Insurance will get added to the MSCI Emerging market index later in the week.
“We are working with liquidity providers with companies to activate the market,” he said.
The exchange also plans to launch new products like margin trading and exchange traded funds, along with Real Estate Investment Trust and may get regulatory approvals in the third quarter of 2015.
Along with this Barwa Bank is working with the regulators for an Initial Public Offering.