Dubai : The value of equities traded on Nasdaq Dubai increased 31 per cent in the first nine months of 2010 compared to the same period in 2009, from $722 million (Dh2.6 billion) to $948 million.
Volumes fell by 13 per cent from 2.32 billion shares to 2.02 billion. For both value and volume, this was the strongest performance by any UAE stock exchange over the nine-month period, measured by percentage change, the bourse said in a statement.
Nasdaq Dubai outsourced its trading, settlement, clearing and custody functions for equities to the Dubai Financial Market last July 11 as part of a strategy to increase trading by individual investors and bring them together in one liquidity pool with institutional investors.
UAE brokers have increased their share of trading of Nasdaq Dubai equities since the outsourcing. In September, the most active broker by volume was Al Futtaim HC Securities, followed by Deutsche Bank and then EFG Hermes.
Equities traded value on Nasdaq Dubai reached $90 million last month, down 33 per cent from September 2009. Volume for the month reached 168 million, down 36 per cent.
The FTSE Nasdaq Dubai UAE 20 index rose strongly last month to end the month at 1,768, up 14 per cent from the end of Aug-ust. Since the start of the year the index has lost 4.5 per cent.
The index tracks 20 liquid stocks listed on DFM, the Abu Dhabi Securities Exchange and Nasdaq Dubai.
