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NASDAQ Dubai appoints Hamed Ali as Acting Chief Executive Officer to lead new phase of growth and development

NASDAQ Dubai announced that it has appointed Hamed Ali as Acting Chief Executive, to lead the next phase of expansion at the region’s international exchange. Mr. Ali joined NASDAQ Dubai earlier in August as Chief Operating Officer (COO) and has stepped down from that position to take up the Acting CEO role. Earlier he served as Executive Officer of the exchange from 2006-2008, before leaving to serve as COO of the Dubai International Financial Centre (DIFC) Authority and later Executive Director at Dubai’s Knowledge & Human Development Authority.

Abdul Wahed Al Fahim, Chairman of NASDAQ Dubai, said: “Mr. Ali’s considerable experience of the capital markets, together with his understanding of the region’s financing needs, position NASDAQ Dubai for renewed growth as a listing venue of choice for initial public offerings (IPOs) of large companies as well as small and medium-sized enterprises.

“The exchange will also maintain its focus on further building its markets in Sukuk, conventional bonds and equity derivatives.”

DFM Achieves 100% Compliance In Local Company Disclosures Of Q2-2012 Results

DFM announced that its listed local public joint stock companies have recorded a 100% compliance regarding the disclosure of Q2-2012 results within the deadline of 45 days from the end of the period. The total number of UAE public joint stock companies listed on DFM which disclosed their second quarter results reached 43 companies, with the exception of Amlak Finance, as it is already suspended due to procedural reasons. The Exchange submitted a detailed report to the UAE Securities and Commodities Authority (SCA) including the disclosure dates and its remarks on the disclosures according to SCA requirements.

NASDAQ Dubai speaks on SME IPO opportunities and admission to trading

Craig Hewett, Head of Business Development at NASDAQ Dubai, discussed IPOs and other financing opportunities for small and medium-sized enterprises, as a panelist at the 3rd Middle East SME Forum in Abu Dhabi on September 17. NASDAQ Dubai was the Strategic Exchange Partner of the event.

Mr. Hewett also spoke about the exchange’s Admission and Disclosure Standards (ADS) at a Dubai International Financial Centre (DIFC) Knowledge Series event on September 12. The ADS, which came into effect in August 2012, have streamlined the process of admission to trading for the benefit of issuers. The event also focused on the DIFC’s Markets Law and included presentations by the Dubai Financial Services Authority on the rules that govern listing on the exchange.

DFM performance during August 2012

The Dubai Financial Market General Index increased by 0.3% to 1547.82 points at the end of August compared to 1542.64 points at the end of July. At the sectoral level, indexes of four out of the nine sectors represented on DFM ended the month in the green, with the Telecommunications sector increasing the most by 5.6%, followed by the Transportation and Banks sectors by 2.3%, and 1.5% respectively. The Consumer Staples sector’s index has not changed during this month, while the Services, Real Estate and Construction and Insurance Indices decreased by 3.2%, 2.0%, and 0.7% respectively.

The market capitalization increased at the end of August by 0.3% amounting to AED 179.5 billion compared to AED 179 billion at the end of the previous month. The value of stocks traded during this month reached AED 2.2 billion, compared to AED 2.8 billion recorded during July, a decrease by 21.3%. The number of stocks traded decreased by 9.8% to reach 1.9 billion stocks during this month compared to 2.2 billion stocks were traded during July. The number of transactions executed during August were down by 15.3% to reach 31.3 thousands compared to 36.9 thousand deals carried out during the previous month.

As for the sectors’ contribution to trading volumes, the Real Estate and Construction sector ranked first in terms of the traded value, to reach AED 1.288 billion, equating to is 57.6% of the total traded value in the market. The Banking sector ranked second at AED 367.8 million (16.5%), followed by the Telecommunications sector with AED 197.7 million (8.8%), the Transportation sector with AED 101.6 million (4.5%), the Financial and Investment Services sector with AED 96.8 million (4.3%), the Services sector with AED 91.9 million (4.1%), and the Insurance sector with AED 91.1 million (4.1%).

On the other hand, the value of stocks bought by institutional investors during this month reached AED 558 million comprising 25% of the total traded value. The value of stocks sold by institutional investors during the same period reached AED 649.6 million which constitutes 29.1% of the total value traded. Net institutional investment out-flow into DFM amounted to AED 91.6 million.


NASDAQ Dubai performance during August 2012

The value of equities traded on NASDAQ Dubai in August 2012 reached 28.1 million dollars. This was a 20% increase from 23.4 million dollars in July 2012 and a fall of 62% from 73.2 million in August 2011.

The FTSE NASDAQ Dubai UAE 20 index ended August 2012 at 1,653, up 1% from 1,637 at the end of July 2012 and up 20% from the end of December 2011.

The index tracks 20 liquid stocks listed on DFM, the Abu Dhabi Securities Exchange and NASDAQ Dubai. It has been designed as a hedging and investment mechanism for GCC and international investors.


Indices

The Dubai Financial Market General Index increased by 0.3% to 1547.82 points at the end of August compared to 1542.64 points at the end of July.

The FTSE NASDAQ Dubai UAE 20 index ended August 2012 at 1,653, up 1% from 1,637 at the end of July 2012 and up 20% from the end of December 2011. Read more about the constituents of the index here

Brokers’ Market share - August 2012

Members Market Share by Value (%)
Al Ramz Securities 10.33
EFG-Hermes Brokerage 6.69
Abu Dhabi Islamic Securities 6.08
Emirates NBD Securities 5.79
Arqaam Securities 5.75
Abu Dhabi Financial Services 5.47
Mena Corp Financial Services 5.12
Mashreq Securites 4.50
Direct Broker for Financial Services 4.32
Daman Securities Center 4.08
Members Market Share by Value (%)
Arqaam Securities 75.71
EFG-Hermes Brokerage UAE 11.13
Deutsche Bank 7.90
Al Ramz Securities 1.85
SHUAA Securities 1.70
Direct Brokers for Financial Services 0.65
Emirates NBD Securities 0.51
Mashreq Securities 0.41
Union Brokerage Company 0.09
Al Dhabi Brokerage 0.05