QIA Acquires NYSE Euronext Stake in Qatar Exchange
(MENAFN- Qatar News Agency) The "Qatar Holding", the investment arm of Qatar Investment Authority (QIA) has signed an agreement with NYSE Euronext whereby it purchased NYSE Euronexts 12-percent stake in Qatar Exchange and has become the sole owner of Qatar Exchange, it was announced here on Tuesday. Cooperation between Qatar Exchange and NYSE Euronext will continue in different fields including technology and expertise, said a press release Qatar Exchange issued here today. Rashid Bin Ali Al Mansoori, CEO of Qatar Exchange stated that the agreement signed by the two parties provided for the sale of NYSE Euronexts 12% stake in Qatar Exchange to "Qatar Holding" after achieving all the strategic goals that were identified for the company following the signing of the strategic partnership agreement between them in June 2009. "Over a period of more than four years of strategic partnership with NYSE Euronext, Qatar Exchange has achieved significant progress and made remarkable achievements in terms of developing infrastructure and systems and the diversification of investment tools and services provided to investors", he highlighted. He added that among the most important achievements was the MSCI upgrade of the Qatari market from frontier to emerging market status and stated that Qatar Exchange had reached another major mile-stone in its drive to develop a world-class financial centre in Doha with the introduction in 2010 of the Universal Trading Platform based on NYSE Euronexts existing best-of-breed systems and incorporating state-of-the-art technology. This launch marked an important step in the history of the Qatari market with the introduction of new order types, order parameters and a closing auction thus improving efficiency and transparency, and attracting a diverse investor base. He pointed out that this period has witnessed various achievements such as the introduction of several mechanisms to assist investors, including DvP and liquidity provision schemes. In addition, QE has launched an initiative to deposit dividends directly in the investors bank accounts and has introduced a number of new investment tools such as bonds and treasury bills, as well as licensing a number of banks as custodians, launching various new indices, creating QEs Venture Market dedicated to SMEs, and allowing banks to perform financial service activities in the market.

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