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


Dubai Gold Securities (DGS)

Dubai Gold Securities (DGS) listed on the exchange on March 2. They are the first gold securities listed in the region to be declared Shariah-compliant.

DGS are designed to track the spot price of gold. Read the press release. They can be traded on NASDAQ Dubai through a broker, just like equities. See How to trade on NASDAQ Dubai

DGS are an initiative of the Dubai Multi Commodities Centre (DMCC) and the World Gold Council (WGC).

Each DGS represents an interest in 1/10th of an ounce of allocated gold. The market maker for the product is HSBC.

Trading volume totaled 3,564 securities in the first 10 days of trading.

The website of the issuer www.dubaigoldsecurities.com provides daily information on gold held on behalf of the investors, the Net Asset Value and the number of DGS in issuance.

More Pictures >

Celebrating the listing of Dubai Gold Securities (DGS) on NASDAQ Dubai: Jeff Singer, Chief Executive, NASDAQ Dubai (left); Ahmed Bin Sulayem, Executive Chairman, Dubai Multi Commodities Centre (centre); and Aram Shishmanian, Chief Executive, World Gold Council (right).


Trading in February

Equities
NASDAQ Dubai has continued to demonstrate that it can be a platform for high liquidity. In February, DP World traded higher volumes than every company listed on the Abu Dhabi Securities Exchange (ADX) and 94% of companies listed on the Dubai Financial Market (DFM).

Total equities trading volume on NASDAQ Dubai in February was 231% higher than in January, the largest percentage increase of any GCC stock exchange.

To see all NASDAQ Dubai listed equities click here >

Derivatives
Derivatives trading increased by 329% in February with 386 equity futures contracts traded, up from 90 contracts in January.

Trades took place in the UAE 20 Future - Mar 2009 expiry contract based on the FTSE NASDAQ Dubai 'UAE 20' index, as well as ARTC Future - Feb 2009 expiry (based on shares in Arabtec Holding) and EMAAR Future - March 2009 expiry (based on shares in EMAAR Properties).

NASDAQ Dubai will continue to develop its derivatives market through education and awareness initiatives, including an Introduction to Equity Derivatives course to be held by NASDAQ Dubai Academy on March 22 and 23. The exchange remains on course to introduce equity and equity index options in the near future.

 
Our newsletter will feature Corporate Fact Sheets providing information about individual NASDAQ Dubai listings
This month read the Dubai Gold Securities (DGS) Fact Sheet*

Offering Document here*
 
NASDAQ Dubai Annual Review 2008 >

The Annual Review gives details of listings, trading, new Members and other developments during the year, including the rebranding of the exchange and the launch of its equity derivatives market.

 
Sunday trading volumes double

Investors continue to take advantage of NASDAQ Dubai's decision to open on Sundays.

In February, trading volumes on Sundays reached 3.72 million securities, more than twice January's figure of 1.72 million.

Sunday trading began in November 2008.


Members' Market Share

Citigroup and HSBC were the most active Members of the exchange in February by trading value in all types of security, while Shuaa Capital was the most active regional Member.

Market share, by value of all traded securities, February 2009:
Member Market Share
Citigroup Global Markets 49.99%
HSBC 28.54%
Deutsche Bank 7.06%
Shuaa Capital International 4.16%
Merrill Lynch International 3.57%
EFG Hermes UAE 1.77%
Morgan Stanley & Co International 0.93%
Mashreq Capital 0.87%
Al Ramz Securities 0.84%
Credit Suisse Securities (Europe) 0.52%
DBFS (Mubasher) 0.44%
Emirates NBD Capital 0.35%
MAC Capital 0.26%
Arqaam Capital 0.18%
Susquehanna International Securities 0.18%
UBS 0.18%
Daman Securities International 0.12%
ING Bank 0.04%
JP Morgan Securities 0.01%
Total 100.00%


FTSE NASDAQ Dubai 'UAE 20' index
The index has risen over the last month after falling earlier in the year. It comprises 19 UAE stocks listed on the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX), as well as DP World on our own market.

Read more about the constituents of the index here >

FTSE NASDAQ Dubai 'UAE 20' index

New Member

Wood & Company Financial Services, based in the Czech Republic, became a Trading Member in February. It is the first firm based in central or eastern Europe to join NASDAQ Dubai. Andrea Ferancova, Partner and Director of Equities of Wood & Company, said: "As the leading independent investment bank in central and eastern Europe, we are delighted to offer our clients the opportunity to trade on the Middle East's international stock exchange. Wood & Company is the 29th firm to become a Trading Member
Read the press release >


Five-day week

NASDAQ Dubai is moving to a five-day week. It announced the change in February after consultation with its Members and other participants in its market.

Starting on March 22, the exchange will extend its trading hours on Sundays by three hours, to 10am to 5pm (from 10am to 2pm currently). Starting from March 27, the exchange will no longer trade on Fridays.

As a result, the trading hours of the exchange will be 10am to 5pm from Sunday to Thursday inclusive.

These changes will enable NASDAQ Dubai to focus on a full five-day trading week, like other international and regional exchanges.

The new opening times have been designed to meet the needs of investors and other participants in NASDAQ Dubai's market, as an exchange located in the Middle East. Read NASDAQ Dubai Trading Holidays and Settlement Calendar >


See www.nasdaqdubai.com for more information about our market or call 04-3612222.
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*Nasdaq Dubai takes no responsibility for the contents of these documents, makes no representations as to their 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 these documents. These documents do not constitute an offer of, or the solicitation of an offer to subscribe for or buy, any DGS. In making an investment decision, prospective investors should seek the independent advice of their own advisors.