Dubai: The value of equities traded on Nasdaq Dubai increased by 37 per cent to $97 million (Dh356 million) in November, compared to $71 million during the same period last year, the exchange said on Tuesday.
The increase comes after Nasdaq Dubai outsourced its trading, settlement, clearing and custody functions for equities to Dubai Financial Market (DFM) in July 2010, as part of a strategy to increase trading of its equities by individual investors and merge them in one liquidity pool with institutional investors.
Nasdaq Dubai was the best performing stock exchange in the UAE in November, measured by percentage change of traded value from November 2009, the exchange said.
UAE brokers have increased their share of trading of Nasdaq Dubai equities since the outsourcing to DFM. In the first 11 months of this year, Nasdaq Dubai's equity trading value rose 32 per cent to $1.2 billion, from $911 million in the same period of 2009.
