NASDAQ Dubai Equities trading volumes rise 62% in first quarter 2009
NASDAQ Dubai today announced that its equities trading volumes increased to 1.04 billion in the first quarter of 2009, a rise of 62% from the first quarter of 2008 (640 million) and of 27% from the fourth quarter of 2008 (817 million).
Trading in equity derivatives has also increased satisfactorily since they were listed on the exchange in November 2008. In March, 6,816 equity futures contracts traded, up from 386 in February and 90 in January.
A total of 6,865 Dubai Gold Securities (DGS) traded in March since they listed on March 2, 2009. DGS are designed to track the spot price of gold and have been declared Shariah-compliant. The DGS listing was the first listing on any stock exchange in the GCC in 2009.
Jeff Singer, Chief Executive of NASDAQ Dubai, said: ��_In a challenging period for the capital markets, NASDAQ Dubai has experienced healthy growth in trading volumes and has listed innovative products. Retail and institutional investors are trading an increasing range of securities and other instruments on our market.
As the region��_s international exchange, NASDAQ Dubai is preparing for further growth and development in 2009.��_
The exchange plans to expand its derivatives market by listing options on equity indices and individual equities.
Trading on Sundays has continued to increase since the exchange introduced Sunday trading in November 2008. Equity trading volumes reached 15.1 million on Sundays in March, a 308% rise from 3.7 million on Sundays in February.