Nasdaq Dubai equities start trading on Dubai Financial Market

11 July 2010

Nasdaq Dubai gains access to 548,000 retail investors

Nasdaq Dubai’s listed equities will commence trading through the Dubai Financial Market’s (DFM) platform on 11 July in a bid to increase trading volumes.

“Nasdaq Dubai has outsourced its key market operations functions for equities to DFM, effective from 11 July 2010,” said a statement on the Nasdaq Dubai. “The outsourcing is a landmark in exchange consolidation in the GCC.”   

The outsourcing includes the trading, settlement, clearing and custody functions for equities.  

In this way, the new structure brings DFM’s 548,000 retail investors together in one liquidity pool with Nasdaq Dubai’s international institutional investors.  

Nasdaq Dubai equities are now displayed on the DFM website, but also continue to be displayed separately on its own website.

Trading of equity derivatives continues to take place on Nasdaq Dubai’s own trading platform and it remains a separate company with its own legal framework, listing rules and members.  

The Dubai Financial Services Authority (DFSA), Dubai’s financial services regulator, issued final approval for the outsourcing on 8 July.

DFM, part of Nasdaq Dubai’s parent company, Borse Dubai, announced the $121m take-over offer for the international exchange in December 2009.

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications