Qatar Holding, the strategic and direct investment arm of Qatar Investment Authority (QIA), and NYSE Euronext have formed a strategic partnership. It is meant to establish Qatar Exchange (QE) as an international exchange, and provide NYSE Euronext with a presence in the Middle East.
AS per the agreement, NYSE Euronext is taking a 20% stake in QE for $200 million. QIA will retain 80% of QE through its strategic and direct investment arm, QH. The new exchange will be overseen by a newly appointed board, to be chaired by His Excellency Dr. Khalid Al Attiyah. Andre Went, a senior leader from NYSE Euronext with 20 years experience, will be appointed as CEO of QE.
Ahmad Al-Sayed, Managing Director and CEO, Qatar Holding, said: “QH is continuously growing its portfolio of strategic and direct investments for the benefit of the State of Qatar. This latest strategic venture will allow Qatar’s financial markets to run on state-of-the-art technology systems. Technology and market know-how transfer opportunities will greatly enhance our knowledge and help generate more high value employment opportunities for our people. When our stock exchange starts trading on Sunday as the Qatar Exchange, it will truly be the start of a new era.
