Over at Nasdaq Dubai, chief executive Jeff Singer is facing a tricky little dilemma – how to sustain his exchange’s ambitions to be the pre-eminent financial marketplace of the Gulf region when he faces a virtual wipeout of daily trading activity.
Coming up to the end of his first year in charge of Nasdaq Dubai, Singer has steered it through the crash of the global financial system, added some new listings, initiated a controversial but potentially lucrative derivatives trading programme, and drawn up some pretty ambitious plans for regional expansion.
But all that could be put at risk if the suggested deal goes through to sell a chunk of shares in DP World, the global ports operator and ND’s biggest stock by far. A sale of the DP World (DPW) free float would reduce daily trading volumes to a trickle, undermining Nasdaq Dubai’s plans to create a real international exchange in the Gulf.
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