NASDAQ Dubai
From Wikipedia, the free encyclopedia
| Type | Privately held |
|---|---|
| Founded | 2005, Rebranded 2008 |
| Key people | Soud Ba’alawy, Chairman; Jeff Singer, CEO |
| Industry | Financial exchange |
| Website | www.nasdaqdubai.com |
NASDAQ Dubai (formerly the DIFX) is the international stock exchange serving the Middle East. It enables companies in its region to raise international and regional capital. It is also a gateway to regional investment for international companies. The exchange welcomes institutional and retail investors from around the world.
NASDAQ Dubai’s regulatory standards are comparable to those of leading international exchanges in New York, London and Hong Kong. .
Contents |
[edit] History
The exchange opened in September 2005 inside the Dubai International Financial Centre (DIFC) free zone. The majority shareholder of NASDAQ Dubai is Borse Dubai, with a two-thirds stake. The NASDAQ OMX Group acquired one third of the shares of NASDAQ Dubai in February 2008. The exchange rebranded as NASDAQ Dubai in November 2008, from its former name of Dubai International Financial Exchange (DIFX).
NASDAQ Dubai is regulated by the Dubai Financial Services Authority (DFSA), the financial regulator inside the DIFC.
[edit] Listed products
The exchange currently lists equities, equity derivatives, structured products, Sukuk (Islamic bonds) and conventional bonds.
NASDAQ Dubai issuers are based in countries all over the world including Australia, Bahrain, Canada, China, Germany, India, Kuwait, Saudi Arabia, Switzerland, the UK and the US as well as the UAE.
Equities include DP World, which listed the Middle East’s largest IPO in 2007 at $4.96 billion, as well as Damas, Depa, Gold Fields, Kingdom Hotel Investments and NASDAQ OMX. (Click here for full list of equities)
NASDAQ Dubai launched the UAE’s only equity derivatives platform in November 2008. In March 2009 it listed the Middle East’s first gold exchange-traded commodity. This has been declared Shariah-compliant.
The exchange is the largest in the world for Sukuk by listed value, at more than $16 billion.
The exchange plans to introduce other innovative securities such as exchange-traded funds (subject to regulatory approval), some of which do not currently exist in the region.
[edit] Members
NASDAQ Dubai’s unique mix of Members includes many of the world’s and the region’s leading investment banks and brokers:
- ABN AMRO Bank N.V.;
- Al Ramz Securities LLC;
- Arqaam Capital Ltd.;
- Barclays Capital Securities Limited;
- CBD Financial Services;
- Citigroup Global Markets Ltd.;
- Credit Suisse Securities (Europe) Limited;
- Daman Securities International Limited ;
- Deutsche Bank AG;
- Direct Broker for Financial Services LLC;
- Diwan Capital Ltd;
- EFG-Hermes UAE Limited;
- Emirates NBD Capital Limited (Formerly known as NBD Investment Bank Limited);
- Hichens, Harrison & Co. plc;
- HSBC PLC;
- ING Bank N.V.;
- J.P. Morgan Securities Ltd.;
- Jefferies International Limited ;
- KAS BANK N.V.;
- MAC Capital Limited;
- Mashreq Capital DIFC Limited;
- Mashreq Securities LLC;
- Merrill Lynch International;
- Morgan Stanley & Co. International plc;
- SHUAA Capital International;
- Susquehanna International Securities Ltd;
- UBS AG;
- Union Brokerage Company;
- Wood & Company Financial Services;
[edit] Trading Times
NASDAQ Dubai is open from Sunday to Thursday. Its trading hours are 1000 to 1700 (0600 GMT to 1300 GMT).
NASDAQ Dubai's opening times are designed to meet the needs of investors in its market, as an international exchange in the Middle East. It is often open when other markets in the region or around the world are closed.
[edit] References
[edit] External links
- NASDAQ Dubai
- DFSA - Dubai Financial Services Authority (market regulator)
- DIFC - Dubai International Financial Center
- Borse Dubai - Borse Dubai
- NASDAQ OMX - NASDAQ OMX
- Share Wadi - UAE stock markets information
