Business Review

In a challenging period for the global financial markets, NASDAQ Dubai achieved notable successes in key areas in 2009. As well as further strengthening its links with regional and international investors, the exchange maintained its track record of expanding trading volumes and capital markets innovation.

Five more brokers became Members during the year, contributing to an increase of nearly one third in reported equity volumes over 2008. The equity derivatives market grew particularly strongly, beginning 2009 as a fledgling platform with almost no activity and ending the year with thousands of trades each week.

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Soud Ba’alawy

After more than two years overseeing the successful expansion of the exchange, Soud Ba’alaway resigned as Chairman of NASDAQ Dubai in November 2009.
Mr. Ba'alawy stepped down in order to focus more closely on his core role at Dubai Group, the leading diversified financial services company of Dubai Holding. Jeff Singer, Chief Executive of NASDAQ Dubai, said: "Soud Ba'alawy has guided the exchange with vigour and strategic insights during a transition period in which we have expanded our investor base regionally and internationally and attracted new listings including equities and Sukuk. As a result of his strong leadership the exchange is set for further expansion and innovation in 2010 and beyond."