Trading in equity derivatives has also increased satisfactorily since they were listed on the exchange in November 2008. In March, 6,816 equity futures contracts traded, up from 386 in February and 90 in January.
A total of 6,865 Dubai Gold Securities (DGS) traded in March since they listed on March 2, 2009. DGS are designed to track the spot price of gold and have been declared Shari'ah-compliant. The DGS listing was the first listing on any stock exchange in the GCC in 2009.
Jeff Singer, Chief Executive of Nasdaq Dubai, said: "In a challenging period for the capital markets, NASDAQ Dubai has experienced healthy growth in trading volumes and has listed innovative products. Retail and institutional investors are trading an increasing range of securities and other instruments on our market.
"As the region's international exchange, Nasdaq Dubai is preparing for further growth and development in 2009."
The exchange plans to expand its derivatives market by listing options on equity indices and individual equities.
Trading on Sundays has continued to increase since the exchange introduced Sunday trading in November 2008. Equity trading volumes reached 15.1m on Sundays in March, a 308% rise from 3.7m on Sundays in February.
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Nasdaq Dubai equities trading volumes rise 62% in first quarter 2009
- United Arab Emirates: Tuesday, April 07 - 2009 at 13:59
- PRESS RELEASE
Nasdaq Dubai announced that its equities trading volumes increased to 1.04bn in the first quarter of 2009, a rise of 62% from the first quarter of 2008 (640m) and of 27% from the fourth quarter of 2008 (817m).
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Notes and media contacts
About Nasdaq DubaiNasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, exchange-traded commodities, structured products, Sukuk (Islamic bonds) and conventional bonds.
The majority shareholder of Nasdaq Dubai is Borse Dubai with a two-thirds stake. NASDAQ OMX Group owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
For more information, please contact:
Mark Fisher
Nasdaq Dubai
Tel: +971 4 3612220
Maliha Aqeel
Account Manager - Finance Practice
Jiwin Public Relations
Tel: +9714 3613598
Burgess Baria
Senior Account Executive - Finance Practice
Jiwin Public Relations
Tel: +9714 3642199
Posted by Rima Ali Al MashniTuesday, April 07 - 2009 at 13:59 UAE local time (GMT+4)
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