Dow Jones GCC Titans 50 to underlie first ETF in UAE

The ETF will be listed on the Abu Dhabi Securities Exchange once the fund has received regulatory approval, which the NBAD believes is imminent. The GCC Titans blue-chip index measures the performance of the 50 leading component stocks traded in six Gulf Cooperation Council (GCC) member states, comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates. To be eligible for inclusion in the index, a stock must have an average daily trading volume of at least $500,000. The index includes the three largest companies of each of the six GCC member states, while the remai...