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Nasdaq Dubai equities trading value soars in Jan-April period
DUBAI — Equities trading value on Nasdaq Dubai rose by 100 per cent in the first four months of 2010 to $574 million, compared to $286 million in the same period last year. However, equities volumes rose by only two per cent to 1 .26 billion shares from 1.23 billion.
In a statement on Sunday, Nasdaq Dubai said equities value traded in the month of April 2010 rose by 83 per cent, reaching $94 million, compared to $51 million in April 2009. Equities volumes in April 2010 were 168 million, 15 per cent lower than the 198 million in April 2009.
Measured by percentage change, Nasdaq Dubai’s equity value and volume figures were the best performing of any UAE stock exchange in the first four months of 2010 and in the month of April 2010, compared to the same periods in 2009.
Citigroup was the most active Member of the exchange by equities volume in the first four months of 2010, followed by Deutsche Bank and then HSBC. EFG Hermes was the most active regional Member during the period, followed by Shuaa Capital and then Arqaam Capital.
Equity derivatives contracts traded on Nasdaq Dubai rose 29 per cent in the first four months of 2010 to 19,210, up 29 per cent from 14,867 traded in the first four months of 2009.
In April 2010 equity derivatives trading reached 2,100 contracts, down 72 per cent from 7,575 contracts in April 2009.
Nasdaq Dubai launched its equity derivatives market in November 2008. Equity futures are listed on 21 individual UAE companies and on the FTSE Nasdaq Dubai UAE 20 share index, which was designed as a hedging and investment mechanism for GCC and international investors.
The FTSE Nasdaq Dubai UAE 20 index fell in April 2010 to end the month at 1,900, 3.5 per cent lower than at the end of March 2010 but 2.5 per cent higher than at the start of the year. — muzaffarrizvi@khaleejtimes.com
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