Nasdaq Dubai cuts capital requirements

Nasdaq Dubai has substantially reduced this month the minimum capital requirement for three categories of membership introduced by the exchange in October 2008.

In a notice, Nasdaq Dubai said the minimum capital requirement for a General Clearing Member (GCM) of Nasdaq Dubai Securities Market will be $8m (Dh29.4m) compared to the $20m minimum capital stipulated in October 2008. The minimum capital required for GCM before October 2008 was $5m.

"In order to be admitted as, and remain, member of Nasdaq Dubai, the applicant must satisfy Nasdaq Dubai that it has, and continues to have sufficient capital for its intended business at the bourse that complies with the revised minimum capital requirement," the notice said.