Boursa Kuwait has announced the launch of a number of new products and investment instruments as part of the third phase of Kuwait’s Capital Markets Authority (CMA) market development project.
Presenting the project, the CMA’s head of markets sector Muthanna Al-Saleh, said that it will initially involve “the complete use of stock lending and borrowing, and applying short sale conditional on the application of borrowing shares, along with improving off-market trade, introducing an after-hours trading session and improving the investment fund trading platform”.
Boursa Kuwait’s new instruments include a real estate fund trading platform, a swap service and a buy-offer service that allows investors to buy between a stake worth between 5% and 30% of any listed company.
The exchange will also make a number of technical adjustments to its trading mechanism whereby trading will be stopped for two minutes following a 10% rise or drop.
The CMA completed the first two phases of its market development project back in May 2017 and April 2018 respectively. According to the CMA, both phases were integral in the upgrading of Kuwait to emerging market status by both FTSE and S&P Dow Jones.
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