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

                                                                       
Axiom Limited has announced it plans to IPO on NASDAQ Dubai in December 2010. The institutional offer is Dubai’s first initial public offering since 2008.

The announcement comes after NASDAQ Dubai successfully outsourced its trading, settlement, clearing and custody functions for equities to Dubai Financial Market (DFM) in July 2010, as part of a strategy to merge DFM’s individual investors into one liquidity pool with NASDAQ Dubai’s institutional investors.

Axiom announced a price range of $0.80 to $1.15, implying a market capitalization of between $760 million and $1.093 billion. Up to 35% of Axiom’s issue shares are to be offered.

Jeff Singer, Chief Executive of NASDAQ Dubai, said: “This IPO by a prominent regional retailer supports the momentum that the exchange has achieved since its outsourcing to DFM. Issuers on NASDAQ Dubai now have access to a liquidity pool of institutional investors from around the world and DFM’s more than 500,000 retail investors.

“They also have the benefit of a bookbuild valuation process, a free float of as little as 25%, and regulation to international standards.”

                                                                       
The value of equities traded on NASDAQ Dubai increased by 30% to 155 million dollars  in October 2010, from 119 million dollars in October 2009.  

DP World, NASDAQ Dubai’s largest listed company, was in the top 5 traded companies of all DFM and NASDAQ Dubai stocks by value on 71% of trading days in October 2010. It was the most highly traded on 14% of days.

NASDAQ Dubai was the best performing stock exchange in the UAE during the month, measured by percentage change of traded value from October 2009.

Traded value on NASDAQ Dubai has risen every month since the outsourcing to DFM took place in July.  

In the first 10 months of 2010, NASDAQ Dubai’s equities traded value rose 31% to 1.1 billion dollars, from 840 million dollars in the same period of 2009.