NASDAQ Dubai records highest equities trading volumes since 07

Citigroup, Deutsche Bank and HSBC the most active in Q1 2010.
NASDAQ Dubai records highest equities trading volumes since 07
EQUITIES RISE: NASDAQ Dubai saw a rise in equities trading volumes in Q1 of 2010, reaching their highest volumes since before the global financial crisis. (Getty Images)
By Gavin Davids
Sun 11 Apr 2010 05:18 AM

NASDAQ Dubai saw a rise in equities trading volumes in the first quarter of 2010. They rose to 1.09 billion, their highest quarterly level since 2007, before the global financial crisis struck.

The 2010 figure was a five percent improvement on 2009’s first quarter of 1.04 billion. It was also 40 percent higher than 2009’s fourth quarter total of 776 million.

Equities volumes in March reached 567 million, the highest monthly figure since 2007. The total was 76 percent higher than the 322 million shares traded in February 2010, and a 90 percent rise on the March 2009 figures of 298 million.

In terms of equity volume, the most active member of the Exchange during the first quarter of 2010 was Citigroup, followed by Deutsche Bank and HSBC. Regionally, EFG Hermes was the most active, followed by Emirates NBD Capital.

NASDAQ Dubai saw a 135 percent increase in equity derivatives contracts traded in the first quarter of the year. A total of 17,110 contracts were traded, in stark contrast to the 7,292 traded in the corresponding period in 2009.

However, March 2010 saw a slump in business, with a mere 2,700 contracts being traded, a 67 percent fall from the 8,120 traded in February. The figures also represented a 60 percent fall from the 6,816 traded in March 2009.

The FTSE NASDAQ Dubai UAE 20 index rose in March 2010 to end the month at 1,970, a 22 percent increase from February levels and a five percent increase from the start of the year.

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