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Wed 13 Jan 2010 10:33 AM

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Nasdaq Dubai trading volumes rise 30% in 2009

Financial exchange also says volumes up 170% in Dec, compared to previous month.

Equities trading volumes on NASDAQ Dubai rose by 30 percent last year and by 170 percent last month, the financial exchange said this week.

Total volumes in 2009 rose to 3.10bn shares, up from 2.39bn in 2008.

In December, volumes for the month reached 410 million shares, the second highest monthly total of the year. This was a 170 percent increase over the November 2009 figure of 152 million and also 170 percent higher than the figure for the same month a year earlier.

NASDAQ Dubai launched its equity derivatives market in November 2008 and the total number of volumes totaled 125,000 last year, with 73 percent of the volume taking place in the second half of the year.

However, there was a 31 percent decline in trading in December, compared to the previous month.

In December, Dubai Financial Market (DFM) agreed to acquire all the shares of NASDAQ Dubai, subject to regulatory approval.

The deal is said to have been worth around $121m.

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