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Sunday, 26 September 2010

Nasdaq Dubai a 'failed experiment' – Gargash - Banking & Finance - ArabianBusiness.com

Daman Investments CEO Shehab Gargash has dismissed the Nasdaq Dubai as a “failed experiment”, as the bourse prepares to integrate fully with the Dubai Financial Market (DFM).

“The NASDAQ Dubai was a failed experiment. I would have liked to see it succeed and we invested effort in helping it to succeed, but that didn’t happen,” Gargash, who is also a director of the Dubai Chamber of Commerce and Industry, told Arabian Business in an interview.

The Nasdaq Dubai, which is down 3.5 percent year-to-date but 46 percent since September 2008, announced in July that trading of its listed securities would be routed through the DFM trading platform.