Posted by Bob Brunskill
The value of equities traded on NASDAQ Dubai increased by 30 per cent in October 2010 compared to the same month last year, new figures from the exchange show.
News of the increase comes after NASDAQ Dubai outsourced its trading, settlement, clearing and custody functions for equities to Dubai Financial Market (DFM) in July this year.
This formed part of a strategy to increase trading of equities by individual investors and merge them in one liquidity pool with institutional investors.
Jeff Singer, chief executive of NASDAQ Dubai, said: "Our traded value has increased every month since the outsourcing, as investors make use of the joint trading platform. In October three more UAE brokers joined the exchange to take advantage of the merger of our liquidity pool with DFMs."
The brokers in question are Al Dhabi Brokerage, Index Securities, and NAEEM Shares & Bonds. Their arrival has raised the number of regional and international members of NASDAQ Dubai to 34.