DIFX rebranded Nasdaq Dubai

Dubai: The Dubai International Financial Exchange (DIFX) has rebranded its market as Nasdaq Dubai as of Tuesday. Nasdaq OMX Group, the world's largest exchange company, also announced yesterday that it will list its shares on Nasdaq Dubai on November 20. Both moves reflect the growing links between Nasdaq OMX Group and Nasdaq Dubai and the direct involvement of Nasdaq in the region. Nasdaq OMX acquired a one-third stake in Nasdaq Dubai in February 2008. The other two-thirds is owned by Borse Dubai, the holding company of Nasdaq Dubai and Dubai Fin-ancial Market. "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 exchanges in the US and Europe in listings, marketing, technology, and management expertise will support its continuing expansion," said Soud Ba'alawy, chairman of Nasdaq Dubai and a Director of Nasdaq OMX Group. After the rebranding, Nasdaq OMX Group expects some of the companies listed on Nasdaq Group to cross-list their shares on Nasdaq 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 will hold its Opening Bell Ceremony at the Dubai International Financial Centre (DIFC). "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," said Bob Greifeld, chief executive of Nasdaq OMX Group and vice-chairman of Nasdaq Dubai. "To facilitate dual listings on Nasdaq Dubai, we have created a streamlined listing process for companies looking to have a secondary listing here," he said. Nasdaq Group's direct involvement in the region is expected to bring more international listings on Nasdaq Dubai from the US and Europe in addition to regional listings. "Nasdaq Group is committed to expand their involvement in the region and our partnership with Nasdaq is in alignment with our strategy and role in the development of regional markets," said Eisa Kazim, Chairman of Borse Dubai. Nasdaq Dubai has embarked on a strategy to enhance its liquidity, number of listings and trading volumes. Under the leadership of Jeff Singer, the new chief executive, the market is implementing initiatives such as listing of shares denominated in the UAE dirham, extended trading hours, listing of derivatives and new asset classes and increased involvement of local brokers. Nasdaq OMX offers trading in multiple asset classes including equities, derivatives, debt, commodities, structured products and Exchange Traded Funds. Its new trading platform - Nasdaq OMX Europe - is the first to connect European liquidity pools with pan-European routing, enabling execution in high volume securities trading in a cross-border, multimarket environment. Source: Gulfnews