Nasdaq Dubai to move equities trading to Dubai Financial Market platform

05/06/2010 - Dubai Investment News
Nasdaq Dubai to move equities trading to Dubai Financial Market platform

Posted by Bob Brunskill

Nasdaq Dubai has confirmed that all trading of its listed equities will take place through the Dubai Financial Market's (DFM) X-Stream trading platform from June 27th.

The exchange claimed the move would strengthen Dubai's role as a centre for international capital market activity, Gulf News reported.

Last week, DFM became the majority owner of Nasdaq Dubai following the acquisition of shares from Borse Dubai and Nasdaq OMX, the international exchange group.

"This new structure will create the same look and feel for trading on both of Dubai's exchanges, which will stimulate trading of Nasdaq Dubai's equities by DFM's 552,000 retail and other investors," Nasdaq Dubai chief executive Jeff Singer said.

"Combined with Nasdaq Dubai's international regulatory standards and links with international investors, this will create a powerful listing and trading hub that is unique in the GCC."

Meanwhile, it was recently revealed that Dubai's Department of Economic Development (DED) issued 1,393 business licenses in April 2010 - a 61 per cent increase on the same month last year.ADNFCR-2019-ID-19819913-ADNFCR