Dubai Financial Market

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million US$

Dubai Financial Market

Name Dubai Financial Market
Country United Arab Emirates
Number of listed companies 63
Domestic market capitalization 111605.46 million US$
SSE Partner Exchange Yes
Has annual sustainability report Yes

.
ESG reporting required as a listing rule Yes

  • UAE Federal Securities and Commodities Authority (SCA) Circular No. 326 of 2021
Has written guidance on ESG reporting Yes
Offers ESG related training Yes

  • DFM and HSBC Global Investor ESG Webinar – 15th June 2020
  • The Powerful Role Women Can Play on Company Boards, Dubai Global Woman Forum – 17th February 2020
  • DFM hosted ESG Reporting Guidance workshop for issuers – 26th November 2019
  • DFM hosted its second ESG workshop to increase awareness of ESG best practices in the region and the new global report on 28 April 2019
  • DFM Company held board briefing on corporate governance practices in collaboration with the Hawkamah Institute for Corporate Governance on 17 April 2019
  • DFM and Hawkamah graduate a new group of Certified Board Secretaries for DFM listed companies, Monday 9th July 2018
  • ESG workshop with UNPRI, Thursday 25th January 2018
  • ESG Master-Class Workshop IPO Forum 2017 , Monday 20th November 2017
  • In 2022, DFM provided training on Climate-related Financial Disclosures (TCFD recommendations) in collaboration with the SSE, CDP and IFC. (source)
Market covered by sustainability-related index Yes
Has sustainability bond listing segment No
Has SME listing platform No
Women on boards mandatory minimum rule No
Additional information

 
Organizational model of stock exchange
  • Listed company for profit; demutualized in 2007
Regulatory bodies

Regulatory model
Government (Statutory) Model

  • The Emirates Securities and Commodities Exchange (ESCA) serves as the federal regulator of the UAE and licenses and supervises all securities exchanges in the country – including the Dubai Financial Exchange. The ESCA implements regulations for the country’s securities exchanges and is able to revoke or suspend the listing of securities. Furthermore, the ESCA implements bylaws for the country’s brokers. Accordingly, the Dubai Financial Market possesses very little regulatory power and would not be considered self-regulatory.
About the stock exchange

Location: Dubai, United Arab Emirates

  • Dubai Financial Market was established as a public institution having its own independent corporate body by a Resolution from the Ministry of Economy No 14 of 2000. DFM is operating as a secondary market for trading of securities issued by public joint-stock companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on 26th March 2000. Source

 

Ownership of Exchange (Shares >4% only) Share
Borse Dubai Ltd 79.67%

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.

Field

Criteria Considered
Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.