FTSE Nasdaq Dubai
The Dubai Financial Market (DFM) (Arabic: سوق دبي المالي) is a stock exchange located in Dubai, United Arab Emirates. It was founded on 26 March 2000.
As of 2014, there are 67 companies listed on DFM. Most of them are UAE-based companies and a few others are dual listings for companies based in other MENA region countries. Foreign companies are from the following countries: Kuwait, Bahrain, Oman, and Sudan. Many companies allow foreigners to own their shares.
During 2004 and 2005, there were significant increases in the volume of shares traded and the share prices of many companies. However, towards the end of 2005 and through the first few months of 2006 the bubble burst and share values dropped by around 60% on DFM, along with similar decreases in most other Persian Gulf stock markets.
DFM is one of three stock exchanges in the UAE. Abu Dhabi Securities Exchange (ADX) also lists mostly UAE companies and NASDAQ Dubai was set up to trade international stocks.
DFM and ADX are both governed and regulated by the Securities and Commodities Authority (SCA). SCA has the authority to impose laws and standards in which DFM and ADX have to comply with. SCA’s role is to ensure that the laws are followed by the exchanges as well as to protect investors’, brokers’ and listed companies’ rights.