The Dubai government is consolidating its holdings in the Dubai Financial Market and Dubai International Financial Exchange into a new holding company, Borse Dubai. DFM chairman Essa Kazim, who has been appointed as the chairman of Borse Dubai, said that the company is intended to be a facilitator, allowing DIFX and DFM to explore joint opportunities for the development of capital markets in the region and in the broader context of global exchanges. “Both exchanges will share best practices, maintaining operational efficiency at international standards. Borse Dubai will boost confidence among issuers, investors, and intermediaries who will benefit from a presence in both exchanges, as well as a broader and more varied range of services,” he said. DIFX and DFM will continue to be regulated by Dubai Financial Services Authority and the Emirates Securities and Commodities Authority respectively. Borse Dubai will build on existing synergies between both exchanges, with improved exchange infrastructure, to better serve all stakeholders. The government's move is in line with the Dubai Strategic Plan 2015, and demonstrates its commitment to position Dubai as the leading capital market in the region. Mr Kazim said: The management team will drive DFM's business and execute the current growth strategies. Given the rapid transformation of capital markets around the world, it was the right time to jointly build on the synergistic opportunities provided by both exchanges and to create Borse Dubai as a platform for further growth.” DIFX chairman Soud Ba'alawy said: “DIFX, being a DIFC entity, is unique in the region. Its standards are comparable to those of leading international exchanges in New York, London and Hong Kong. Borse Dubai, based on DIFX's and DFM's strengths, will facilitate easier access for international and regional investors, providing for a potentially diverse investor base.”