Equities traded value rises 37% in November using DFM's trading platform

PUBLISHED ON 07-Dec-2010

The value of equities traded on NASDAQ Dubai increased by 37% to 97 million dollars in November 2010, from 71 million dollars in November 2009.  

The increase comes after NASDAQ Dubai's outsourcing of its trading, settlement, clearing and custody functions for equities to Dubai Financial Market (DFM) in July 2010, as part of a strategy to increase trading of its equities by individual investors and merge them in one liquidity pool with institutional investors.

NASDAQ Dubai was the best performing stock exchange in the UAE during the month, measured by percentage change of traded value from November 2009. UAE brokers have increased their share of trading of NASDAQ Dubai equities since the outsourcing to DFM.

In the first 11 months of 2010, NASDAQ Dubai's equities traded value rose 32% to 1.2 billion dollars, from 911 million dollars in the same period of 2009.

The FTSE NASDAQ Dubai UAE 20 index fell in November 2010 to end the month at 1,772, down 5.5%  from the end of October. Since the start of the year the index has fallen 4.3%.

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.

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