Hamed Ali has led Nasdaq Dubai’s expansion as the fastest growing exchange in the region since his appointment as chief executive in 2012. During this time, the exchange has attracted 127 listings with a value of over $77bn, and expanded its products offering to be the first exchange to list real estate investment trusts (REITs) and introduce local equity futures in the region.
Ali’s leadership has played an instrumental role in attracting the largest number of securities compared to any other regional exchange and making Nasdaq Dubai the leading sukuk listing venue globally.
With equity derivatives being one of Ali’s focal points for developing and expanding the regional markets, Nasdaq Dubai’s futures platform has traded more than 3.6 million contracts since its launch in 2016. A one-of-its-kind in the region, the platform offers unique tools for regional and international investors in Middle Eastern markets.
As well as hedging opportunities, for the first time investors can make gains from equities when prices are falling as well as rising and also take advantage of leveraging.
Offered from day one on leading UAE stocks such as Emaar Properties and DP World, the exchange’s futures offering has expanded to include UAE equity indices, through collaboration with Dubai Financial Market and Abu Dhabi Securities Exchange. To further expand the market, Ali is working toward launching futures on stocks listed in Saudi Arabia, the region’s largest equity market, in Q3 2018.
Ali has made expansion of the Islamic capital markets a core focus of the exchange, both regionally and globally.
In 2015, Nasdaq Dubai’s record performance made Dubai the leading sukuk listing venue globally. From $8bn in 2013, today there are more than $57bn worth of Sukuk listed on Nasdaq Dubai. Local and regional companies such as Emirates Airline and Dar Al Arkan have been among the issuers, as well as international entities such as the governments of Indonesia and Hong Kong, and the Islamic Development Bank. Working with regional financial institutions, Ali led the development of a Murabaha platform for Islamic financing that is used by financial institutions to finance their retail and corporate customers. Transfers on the platform have totalled $91bn since it opened in 2013.
Ali’s achievements at Nasdaq Dubai span over 11 countries with 47 listings coming from overseas. He has been instrumental in creating a unique network regionally and internationally, built working relationships with organisations globally, and created market linkages with MCDR Egypt, Bahrain, the US, Euroclear and Clearstream. Nasdaq Dubai has obtained global recognition from European regulators, a key milestone which shows the exchange’s international credibility. Under his leadership, the youngest exchange in the region has seen the fastest growth in the past 5 years.
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