Nasdaq Dubai cuts down trading time

Nasdaq Dubai is changing its opening hours to those of sister exchange, the Dubai Financial Market in its latest attempt to boost trading, it said yesterday.

Nasdaq Dubai plans to reduce its trading hours to 10am to 2pm, pending regulatory approval.

The operational functions of Nasdaq Dubai equities will be outsourced to the DFM, including trading, clearing, settlement and custody, it said.

"These changes are designed to attract more liquidity from the retail investors who trade on DFM," it said.

Nasdaq Dubai said there would be no change to the listing status nor the regulatory framework of Nasdaq Dubai equities.

The changes are subject to regulatory approval from the Dubai Financial Services Authority and would come into effect in he next few months, it said.

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