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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.



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

Newspaper Column
Jeff Singer, Chief Executive of NASDAQ Dubai, focused on the importance of high quality information for successful investing, in the first article of a monthly column on April 20 in Gulf News and Al Khaleej newspapers. Jeff will make use of his Saturday column, Exchange Views, to give his views on various aspects of the region’s capital markets
Derivatives trading
The equities futures market continues to develop following its launch in November 2008.
Trading volumes in April rose to 7,575 contracts from 6,816 in March and 386 in February.

By volume, the most heavily traded futures contracts in April were in Union Properties, followed by DP World and then Dubai Investments. By value, Sorouh contracts were the most heavily traded, followed by Aldar and then Emaar.

Market Place Service
Starting in May, NASDAQ Dubai is introducing a new service to Members to facilitate trading in derivatives and other securities. The service, called Market Place Service (MPS), is a facility operated by the exchange which helps Members to place orders in the order book on their behalf. MPS is operated by Richard Pafford, a derivatives specialist who has 10 years experience in similar roles at the London Stock Exchange and OMX exchange. For more information you can contact Richard at MPS@nasdaqdubai.com

Equity futures trading – April 2009
Contracts Value ($ or $ equivalent)
UPP 1,280 107,580
DPW 1,200 30,900
DIC 930 120,280
RAKPROP 780 46,020
AIRARABIA 700 63,000
SOROUH 550 148,950
EMAAR 520 125,250
ALDAR 420 142,120
DANA 400 35,400
DFM 360 46,296
ADCB 320 51,640
SHUAA 60 6,414
NBAD 35 40,233
FGB 20 19,000

We are continuing to develop our derivatives market, including providing a trading, clearing and settlement service for user-defined equity options. More details of this will be given in next month’s newsletter.

NASDAQ Dubai Academy will again team up with Arqaam Capital to run two-hour courses on equity derivatives in May (see Academy below) after the first such courses in April proved highly popular.

Dubai Gold Securities
Since Dubai Gold Securities (DGS) listed on March 2, a total of 9,111 securities have traded with a total value of $828,000. Trading in April reached 2,246 securities. DGS are designed to track the spot price of gold and have been declared Shariah-compliant. They can be traded on NASDAQ Dubai through a broker, just like equities.
See How to trade on NASDAQ Dubai.

Equities
Trading volumes in April totaled 198 million shares with trading taking place in DP World, Depa, Damas, Boulder Steel and NASDAQ OMX. Since the start of the year 1.237 billion shares have traded.

The share price of DP World, the most heavily traded stock, was 27 cents at the end of April, up from 24 cents at the end of March and 19 cents at the end of February.

To see all NASDAQ Dubai listed equities click here >

FTSE NASDAQ Dubai 'UAE 20' index
The index rose 11.6% in April to close at 1,293.97, the third consecutive monthly increase. On April 30 it was 3.6% higher than at the start of the year. The index comprises DP World as well as 10 stocks listed on the Dubai Financial Market and 9 listed on the Abu Dhabi Securities Exchange (ADX).

Read more about the constituents of the index here >

FTSE NASDAQ Dubai 'UAE 20' index

NASDAQ Dubai companies best in GCC for disclosure
NASDAQ Dubai ‘provides a new benchmark for the region’, according to a survey of GCC stock exchanges that ranked more than 600 companies by trading history, corporate communications and disclosure practices. The BASIC survey, conducted by The National Investor in partnership with Hawkamah, ranked the ‘relative risk’ of investing in each company.

NASDAQ Dubai companies on average scored 31% higher than companies on other GCC exchanges. They scored particularly well in the corporate communications and disclosure categories.

New Member
CBD Financial Services joined NASDAQ Dubai as a Member in April. It is the first Dubai-based broker to become a General Clearing Member (GCM), enabling it to trade directly on the exchange and provide Clearing services to other Members.

Michael Fernandez, General Manager, CBD Financial Services said: “We are delighted to connect our client base of high net worth individuals and corporate clients to the expanding opportunities provided by the exchange to enable them to diversify their portfolios.”

CBD Financial Services, a subsidiary of Commercial Bank of Dubai, joined NASDAQ Dubai directly from the regulatory jurisdiction of the UAE.


Members' Market Share


Citigroup and Deutsche Bank were the most active Members of the exchange in April 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, April 2009:
Member Market Share
Citigroup Global Markets 38.44%
Deutsche Bank 18.45%
HSBC 11.24%
Shuaa Capital International 8.19%
Emirates NBD Capital 5.99%
Merrill Lynch International 5.11%
EFG Hermes UAE 3.93%
DBFS (Mubasher) 1.81%
Mashreq Securities 1.40%
UBS 1.14%
Arqaam Capital 0.98%
Susquehanna International Securities 0.94%
Credit Suisse Securities (Europe) 0.85%
Morgan Stanley & Co International 0.63%
Al Ramz Securities 0.37%
JP Morgan Securities 0.18%
Daman Securities International 0.16%
MAC Capital 0.14%
ING Bank 0.06%
Total 100.00%


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

Courses in May will focus on derivatives and will be delivered jointly by NASDAQ Dubai and Arqaam Capital, a derivatives Trading Member of the exchange

Equity Derivatives Basic – May 7 (in Arabic); May 14 (in English)
Aimed at market professionals, this two-hour session focuses on the structure of derivatives as well as how to evaluate and price them.

Options Advanced – May 21 (in English)
This two-hour session covers the pricing and the hedging of equity options with a focus on realistic situations and realistic market limitations, as well as monitoring risk.

Derivatives education for journalists – May 10 (in Arabic); May 13 (in English)
This two-hour session explains what equity derivatives are, what they are for and how they are traded. It also looks in detail at NASDAQ Dubai’s own derivatives.

Sign up for NASDAQ Dubai Academy courses


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 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 DEPA securities. In making an investment decision, prospective investors should seek the independent advice of their own advisors.