If the newsletter is not displaying correctly, click here to read it online

Welcome to the latest issue of NASDAQ Dubai Monthly, our online newsletter that updates market participants about developments at the exchange.




Our newsletter features Corporate Fact Sheets providing information about individual NASDAQ Dubai listings
This month read the Damas Fact Sheet*

Newspaper Column
Jeff Singer, Chief Executive of NASDAQ Dubai, explained the importance of on-exchange trading and clearing for reducing risk in his latest monthly column, Exchange Views, in Gulf News.


Short selling reporting extended
NASDAQ Dubai has extended for six months its requirement that Members report gross short positions in securities listed on the exchange. The reporting contributes to the maintenance of a fair and orderly market. The extension will expire on December 31, 2009.


Investors optimistic on GCC stocks - survey
A June survey by SHUAA Capital found international and regional investors generally optimistic about GCC share prices. For NASDAQ Dubai stocks, 33.7% expected a rise in the next 6 months, compared to 16.9% predicting a fall.


SunGard supports derivatives market

SunGard, a global software and IT services company, has agreed to offer services to NASDAQ Dubai Members for processing equity derivatives traded on the exchange. This will support further expansion of the NASDAQ Dubai derivatives market, which launched in November 2008.

SunGard’s automated GMI clearing and accounting system assists with the processing of derivatives transactions from contract to settlement, including post-trade processing, margin calculation and quick valuation of transactions. press release

In June 11,270 futures contracts traded on the exchange, up 39% from 8,110 in May. Trading in the second quarter of 2009 totaled 26,196 contracts, up from 7,292 in the first quarter.

By volume, the most heavily traded contracts in June were in Sorouh, followed by Dana Gas and then DP World. By value, Sorouh contracts were the most heavily traded, followed by DP World and then Dana Gas.


Equity futures trading – June 2009

Contracts Value
SOROUH 2,100 AED 675,500
DANA 1,620 AED 176,760
DPW 1,350 USD 51,675
AIRARABIA 1,190 AED 117,383
UPP 1,190 AED 121,627
RAKPROP 1,120 AED 92,708
DSI 500 AED 46,200
DIB 460 AED 126,766
ARTC 400 AED 115,520
ADCB 380 AED 70,370
EMAAR 340 AED 131,920
SHUAA 220 AED 35,596
NBAD 160 AED 154,680
ALDAR 160 AED 67,360
FGB 80 AED 99,540


Equities

Equities trading volumes in the first half of 2009 reached 1.76 billion shares, up 61% from 1.09 billion recorded in the first half of 2008 and up 35% from 1.3 billion recorded in the second half of 2008.

NASDAQ Dubai introduced compulsory reporting of all over the counter trades in September 2008.

Volumes in June 2009 totaled 189.5 million shares, up 110% from 90.2 million in June 2008. Trading took place during the month in three primary listings - DP World, Depa and Damas – and two secondary listings, Boulder Steel and Gold Fields..

Boulder Steel’s primary market is the ASX in Australia and Gold Fields’ primary listing is on the Johannesburg Securities Exchange.

To see all NASDAQ Dubai listed equities click here >


Dubai Gold Securities

A total of 2,477 Dubai Gold Securities (DGS) traded in June, bringing the total traded since DGS listed in March to 24,432.

Each security is valued at approximately 1/10th of the spot price of gold.

DGS can be traded on NASDAQ Dubai through a broker, just like equities, and have attracted retail and institutional interest. They have been declared Shariah-compliant. See How to trade on NASDAQ Dubai.

FTSE NASDAQ Dubai 'UAE 20' index
At the end of a volatile month the index closed on June 30 at 1,478, 0.03% higher than at end-May. It was the fifth consecutive monthly Increase, leaving the index 18% higher than at the start of the year. The index, a benchmark for UAE stocks, comprises DP World as well as 10 stocks on the Dubai Financial Market and 9 on the Abu Dhabi Securities Exchange (ADX).

Read more about the constituents of the index here >

FTSE NASDAQ Dubai 'UAE 20' index


Middle East Investor Relations Society

NASDAQ Dubai has become an Advisor Member of the Middle East Investor Relations Society (ME-IR Society) and will work with it to promote best practices in the region.

This will include holding educational seminars for issuers, potential issuers and their advisors. NASDAQ Dubai will offer its premises for ME-IR Society events.

Through the exchange’s membership, NASDAQ Dubai issuers can obtain discounted membership of the ME-IR Society.


Dubai Share Talk investors event

Members of the dubaisharetalk.com investors forum gathered at NASDAQ Dubai on June 7 to learn more about the exchange and swap views about trading UAE stocks and other capital markets products. Jeff Singer, NASDAQ Dubai’s Chief Executive, welcomed them to the exchange and Dean Noble, Head of Market Operations, gave a presentation on NASDAQ Dubai’s derivatives. NASDAQ Dubai was delighted to host retail investors and plans more such events.


Members' Market Share


For the second month in a row, Deutsche Bank was the most active Member of the exchange in June by trading value in all types of security. It was followed by HSBC and then Citigroup. EFG-Hermes was the most active regional Member over the month, narrowly ahead of Shuaa Capital International, which was followed by DBFS (Mubasher).

Market share, by value of all traded securities, June 2009:
Member Market Share
Deutsche Bank 29.19%
HSBC 23.54%
Citigroup Global Markets 13.13%
EFG-Hermes UAE 5.31%
Morgan Stanley & Co International 5.29%
Shuaa Capital International 5.18%
Merrill Lynch International 3.66%
DBFS (Mubasher) 3.58%
Wood & Co 3.11%
Mashreq Securities 1.84%
Emirates NBD Capital 1.45%
SusqueHanna International Securities 1.41%
Arqaam Capital 1.31%
JP Morgan Securities 1.05%
Credit Suisse 0.95%


NASDAQ Dubai Academy

NASDAQ Dubai Academy provides training courses for a range of market participants, including issuers, Members, investors and the general public.

Recent courses include Introduction to Financial Markets, Financial PR & Investor Relations and Best Practice and Compliance in Financial Communications, held last week at NASDAQ Dubai in conjunction with Finance Talking, a UK-based training company, and the Middle East Investor Relations Society.

In the second half of 2009 the Academy plans to hold a number of courses including:

Foundation level:
Introduction to Financial Results & Annual Reports
Introduction to Valuation & Stock Market Reaction

Intermediate level:
Understand and Analyse your Company’s Financial Results
Understand Company Valuation, Corporate Finance and M&A
Understanding Debt Markets & Debt IR

Master Class:
Investor Relations and Financial Communications Master Class

Sign up for NASDAQ Dubai Academy courses


See www.nasdaqdubai.com for more information about our market or call +971 4 361 2222.
We welcome your comments on our website. Click here
Should you wish not to receive our Newsletter click here to unsubscribe

*Nasdaq Dubai takes no responsibility for the contents of this document, makes no representations as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon any part of the contents of this document. It does not constitute an offer of, or the solicitation of an offer to subscribe for or buy, any DAMAS securities. In making an investment decision, prospective investors should seek the independent advice of their own advisors.