New record on Dubai's NASDAQ

08/12/2009 - Dubai Investment News
New record on Dubai's NASDAQ

Posted by Neil King

Those with a property in the UAE may be aware of the recent rise in the Dubai Gold Securities (DGS) trading volumes.

A monthly record of 40,688 was recorded on the NASDAQ last month, which represented over three times May's record.

NASDAQ Dubai serves between East Asia and Western Europe as an international financial exchange. The exchange lists derivatives, shares, structured products, exchange-traded commodities, conventional bonds and Sukuk at the present time.

DGS are an initiative of the World Gold Council and Dubai Multi Commodities Centre - declared Shariah compliant - with each DGS valued at around 1/10th the gold spot price.

NASDAQ equities trading volumes on Dubai went up to 2.68 billion shares from January to November of this year. This represented a 20 per cent increase compared to the same period last year, when the figure was 2.24 billion.

Dubai Financial Services Authority (DFSA) is the regulator of NASDAQ.

The Dubai Financial Services Authority acts as the only independent regulator of all ancillary and financial services run through the Dubai International Financial Centre