Boursa Kuwait participated in a webinar organized by financial services company HSBC and with the participation of the Capital Markets Authority to highlight updates and final preparations for the Kuwaiti capital market’s promotion to MSCI Emerging Markets in the November EM inclusion.
Representing Boursa Kuwait during the webinar was Noura Al-Abdulkareem, Boursa Kuwait’s Head of Markets Sector, who commented on the significant achievements of Boursa Kuwait as a result of its wide-ranging market development efforts to enhance the Kuwaiti capital market, highlighting recent changes to the exchange’s mechanisms to accommodate the inclusion in the MSCI Emerging Markets Index.
Commenting on the roadshow, Al-Abdulkareem said: “Despite the challenges brought forth by the coronavirus pandemic, Boursa Kuwait has continued to pursue its strategic objectives with a commitment to contributing to the advancement of the Kuwaiti capital markets and enticing the international community to invest in it.”
She added, “Boursa Kuwait made changes to its trading mechanism to accommodate the inclusion in the MSCI Emerging Markets Index with an extension of the Closing Auction and Trade at Last sessions on the day of Inclusion, as well as an extension on Custodian Rejections. Permanent fixtures in the exchange’s trading mechanisms going forward also include the introduction of allocation accounts and the removal of the fresh money rule (Netting) on an investor level.”
Boursa Kuwait’s participation in the HSBC event marks the second event in collaboration with the financial services company in a virtual capacity this year. In September, Boursa Kuwait organized its first Virtual Corporate Day in collaboration with HSBC from 9 until 10 September 2020. The conference, held virtually because of the spread of the coronavirus pandemic, was attended by nine companies listed in the Kuwaiti capital market, who met with 31 of the world’s leading institutional investors and asset management firms over the two-day period.
Boursa Kuwait recently listed its shares on the country’s financial market to become the first fully privatized bourse operator and self-listed exchange in the region to reach this achievement. The company’s shares had rocketed more than 10-fold on its stellar trading debut on September 14, 2020.
Since its inception, Boursa Kuwait has worked effortlessly to create a credible exchange built on efficiency and transparency, creating a liquid capital market, a progressive exchange platform and developing a comprehensive set of reforms and enhancements that has allowed it to compete on an international level. The company has rolled out numerous market reforms and new initiatives over the past three years as part of its comprehensive multi-phase market development (MD) plans.
For more information on Boursa Kuwait’s initiatives and latest updates, please visit www.boursakuwait.com.