DIFX is rebranded 'NASDAQ Dubai'; NASDAQ OMX Group to list its shares on region's International Exchange.Summary: NASDAQ NASDAQin full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Opening Bell Ceremony Will be Broadcast Live From DIFC DIFC Dubai International Financial Centre On November 20 The Dubai International Financial Exchange The Dubai International Financial Exchange (DIFX) is a stock exchange opened on September 26 2005 in Dubai, United Arab Emirates. DIFX aims to become the leading stock exchange between Western Europe and East Asia. (DIFX DIFX Dubai International Financial Exchange ) has rebranded its market as NASDAQ Dubai, effective today. NASDAQ OMX Group NASDAQ OMX Group is the tentative name for the combined entity resulting from the pending merger of The NASDAQ Stock Market, Inc. and OMX AB. Its headquarters will be located in New York. (Nasdaq:NDAQ NDAQ National Database of Accredited Qualifications ), the world's largest exchange company, also announced today it will list its shares on NASDAQ Dubai on November 20th. Both moves reflect the growing links between NASDAQ OMX Group and NASDAQ Dubai, as well as the growth of Dubai as an international financial centre. Soud Ba'alawy, Chairman of NASDAQ Dubai and a Director of NASDAQ OMX Group, said, "As the international stock exchange serving this region, NASDAQ Dubai acts as a capital markets gateway for investors all over the world, including and especially in this region. NASDAQ Dubai's growing ties to NASDAQ OMX OMX Office Max (stock symbol) exchanges in the U.S. and Europe in listings, marketing, technology, and management expertise will support its continuing expansion." NASDAQ Dubai has attracted listings from around the world and from within its own region and built a world class exchange infrastructure. Jeff Singer, Chief Executive of NASDAQ Dubai, said, "NASDAQ Dubai is taking active steps to further develop its market including extending its opening hours, opening on Sundays, and allowing listings in UAE Dirhams. We will continue to develop new asset classes as well as seek further primary and secondary equity listings." Bob Greifeld, Chief Executive of NASDAQ OMX Group and Vice Chairman of NASDAQ Dubai, said, "NASDAQ Dubai provides a first-class venue through which NASDAQ OMX listed companies can reach new investors in the Gulf and the Middle East. We've attracted 29 companies to our first Middle East investor conference here in Dubai and there is clear and tangible interest in this market. At the same time, we can provide local investors with opportunities to invest in innovative, growth-oriented companies." Greifeld added, "To facilitate dual listings on NASDAQ Dubai, we have created a streamlined listing process for companies looking to have a secondary listing here." NASDAQ OMX acquired a one-third stake in NASDAQ Dubai in February 2008. The other two-thirds is owned by Borse Dubai. NASDAQ OMX Group will host its First Middle East Investor Conference in Dubai on November 20 to provide its issuers with access to investors in the region. The conference will be held jointly with NASDAQ Dubai. Also on November 20, The NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. will hold its Opening Bell Ceremony at the Dubai International Financial Centre The Dubai International Financial Centre (DIFC) is a near-shore financial hub for the MENA containing a capital market designated as a financial free zone in Dubai. It is established to create an environment for growth, progress and economic development in the UAE and the wider (DIFC), where NASDAQ Dubai is based. The ceremony, one of the most televised events in the world, will be broadcast live in Times Square in New York and around the globe. NASDAQ Dubai will make a unique addition to the international equity and index derivative landscape by launching a UAE derivatives market on November 19. Members will be able to trade single stock futures on UAE-listed equities and a future on the FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. DIFX UAE 20 equity index calculated by FTSE International. Derivatives trading can provide investors with price insurance and create liquidity and stability in the underlying shares. The exchange opened with the name DIFX in September 2005. It is based in the Dubai International Financial Centre (DIFC). 2008 Mena Report (www.menareport.com) 2008 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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