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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 DP World Fact Sheet*

NASDAQ Dubai moved to a Sunday-Thursday trading timetable in March.
New Trading Schedule here
Derivatives trading

Equity futures trading has increased sharply since the market launched in November 2008. In March 6,816 contracts traded, up considerably from February's total of 386. In January 90 contracts traded.

By volume, the most traded futures contracts have been in Air Arabia, followed by DP World and EMAAR contracts. By value, the most traded contracts have been in the FTSE NASDAQ Dubai UAE 20 index, followed by Air Arabia and EMAAR contracts.

We will continue to develop our derivatives market, including launching equity options in due course.

NASDAQ Dubai Academy will team up with Arqaam Capital to run two-hour courses on derivatives (see Academy below).

Equity futures trading from market launch on November 19, 2008 to March 31, 2009
Contracts Value ($ or $ equivalent)
AIRARABIA Future- May 2009 Expiry 1,840 169,280
AIRARABIA Future- Apr 2009 Expiry 1,380 131,100
DPW Future- Apr 2009 Expiry 1,600 36,150
EMAAR Future- Mar 2009 Expiry 470 95,130
EMAAR Future- Apr 2009 Expiry 300 70,500
EMAAR Future- May 2009 Expiry 170 34,850
DFM Future- Jun 2009 Expiry 360 43,560
ADCB Future- April 2009 Expiry 180 30,420
ARTC Future- Feb 2009 Expiry 175 25,920
ARTC Future- Mar 2009 Expiry 120 18,960
ARTC Future- May 2009 Expiry 80 12,920
ALDAR Future- Mar 2009 Expiry 160 36,800
ALDAR Future- Apr 2009 Expiry 160 36,480
ALDAR Future- May 2009 Expiry 100 26,500
DIB Future- Apr 2009 Expiry 130 31,330
UAE20 Future- Apr 2009 Expiry 72 759,284
UAE20 Future- Mar 2009 Expiry 10 139,050
FGB Future- Mar 2009 Expiry 40 36,620

Equities Trading

Trading volumes in Q1 2009 rose to 1.036 billion, up 62% from Q1 2008 (640 million) and up 27% from Q4 2008 (817 million).

FTSE NASDAQ Dubai 'UAE 20' index
The index rose 7.9 % in March to close at 1159.71 on
March 31. The index comprises DP World as well as 10 stocks listed on the Dubai Financial Market (DFM) 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

Volumes in March 2009 totaled 298.5 million. This was 50% higher than the 2008 monthly average.

In March the share price of DP World rose 26% from 19 cents (closing price on February 27) to 24 cents (closing price on March 31).

Trading volumes on Sundays have continued to increase, since Sunday trading was introduced in November. Equity volumes on Sundays in March reached 15.1 million, up from 3.7 million in February.

To see all NASDAQ Dubai listed equities click here >

Dubai Gold Securities

Since Dubai Gold Securities (DGS) listed on March 2, a total of 6,865 contracts have traded with a total value of $634,000. DGS are designed to track the spot price of gold. They can be traded on NASDAQ Dubai through a broker, just like equities.
See How to trade on NASDAQ Dubai.
.
Tick size reduction

NASDAQ Dubai is reducing the minimum trading tick size on its stocks from the current minimum of 1 US cent. From April 26 2009, the minimum will be reduced to 1/10 of a cent for stocks valued at two dollars or less. The minimum will be half a cent for stocks valued at more than two dollars and up to 10 dollars; and it will remain at 1 cent for stocks valued at more than 10 dollars. Reducing tick size on exchanges can significantly reduce the spread between bid and ask prices, thus increasing liquidity.


Members' Market Share


Deutsche Bank and Citigroup were the most active Members of the exchange in March 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, March 2009:
Member Market Share
Deutsche Bank 39.85%
Citigroup Global Markets 23.44%
UBS 6.64%
Shuaa Capital International 6.31%
HSBC 5.16%
EFG Hermes UAE 4.56%
JP Morgan Securities 2.43%
Merrill Lynch International 2.11%
Emirates NBD Capital 1.99%
DBFS (Mubasher) 1.53%
Morgan Stanley & Co International 1.27%
Arqaam Capital 0.84%
Susquehanna International Securities 0.84%
Credit Suisse Securities (Europe) 0.77%
Mashreq Capital 0.63%
Mashreq Securities 0.59%
MAC Capital 0.33%
ING Bank 0.31%
Al Ramz Securities 0.17%
Daman Securities International 0.16%
Gulf National Securities Centre International 0.08%
Total 100.00%

Appointment

NASDAQ Dubai welcomes Lanae Holbrook as Senior Vice President, General Counsel & Head of Market Regulation. Lanae has joined from NASDAQ OMX, where she was Chief Counsel, Listing Qualifications Hearings in NASDAQ OMX's Office of General Counsel. Before joining NASDAQ OMX in 2004, Lanae was a corporate/securities partner at the New York-based law firm Fried Frank Harris Shriver & Jacobsen, where she represented companies involved in capital markets and M&A activity. Her expertise and international experience will help to develop our market and assist those who participate in it.

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

Trading Managers Course & Examination -April 16, 2009
For traders and trading managers who will be involved in trading NASDAQ Dubai products. The course will be followed by an examination on April 30.
Sign up for this course

Courses in Equity Derivatives - April 16 (in Arabic); April 23 and 30 (in English)
Together with Arqaam Capital, a derivatives Trading Member of the exchange, NASDAQ Dubai Academy will provide a series of two-hour training sessions on equity derivatives. Aimed at market professionals, these will focus on the structure of derivatives as well as how to evaluate and price them.
Click here to be kept informed


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