Borse Dubai

DIFX Board Announces Appointment of Jeffrey Singer as Chief Executive Officer

Former Nasdaq Executive has wealth of experience of international securities trading and exchange platforms

Dubai: 19 June, 2008 - The DIFX Board of Directors announced today the appointment of Jeffrey Singer as the new Chief Executive Officer and a member of the DIFX Board, effective July 1. Singer fills the position vacated by Per E. Larsson who has accepted another senior position in the region, following a successful two years that saw the creation of the partnership between The Nasdaq Group and the DIFX.

Soud Ba’alawy, Chairman of the DIFX said: "In the last two years, we have seen the development of the DIFX as a bridge between the capital markets of East and West, attracting issuers and investors from around the world. Along with the DIFX Board of Directors, I look forward to working with Jeff on building on the growth and success achieved in the last two years through the further expansion of the exchange.

“We wish Per Larsson well with his future plans. He has been instrumental in the development of the DIFX as a fully functional exchange matching international best practice and regulations. His accomplishments at the DIFX will continue to add value to the exchange and its stakeholders.”

Larsson said: “It has been an honour and privilege to have led the development of the only international exchange in this fast growing region and the biggest exchange for Sukuk in the world. The DIFX has been developed to international standards and attracted the biggest IPO in the Middle East through DP World, the first UAE company through Depa, as well as a wide range of international listings and structured products.”

Singer joins the DIFX from Nasdaq where he was Senior Vice President and Head of International, responsible for Nasdaq’s global business development with a primary role of managing international relationships with companies outside of the Americas. He brings with him a wealth of experience and knowledge of international securities trading, exchange platforms and application software.

Bob Greifeld, Chief Executive Officer of The Nasdaq Group said: "Jeff's appointment marks another important linkage between Nasdaq and DIFX, demonstrating our commitment to this market. Throughout the past few years, Jeff has serviced Nasdaq companies globally providing them with customized regional programs, corporate services and market solutions. As the CEO of DIFX, I believe that Jeff is well positioned to provide companies in Dubai with the same level of service and leadership which Nasdaq issuers have benefited from such as enhanced visibility, access to capital, and liquidity. We wish Jeff the best in his new endeavor and look forward to working with him in this new capacity.”

Jeff Singer said: “During my time at Nasdaq I truly enjoyed working with a diverse group of companies from both developed and emerging markets to help solve their global capital formation challenges while developing programs that would enhance their trading and market visibility. I am delighted to be taking on this new opportunity at the DIFX in a critical region in today’s marketplace. I look forward to further leveraging the Nasdaq OMX / DIFX relationship.”

The DIFX is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as international issuers that seek regional and international investment. The exchange currently lists shares, structured products, Sukuk (Islamic bonds) and conventional bonds.

The regulator of the DIFX is the Dubai Financial Services Authority (DFSA). The DIFX is located in the Dubai International Financial Centre (DIFC).

The Nasdaq Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. Nasdaq Group offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. Nasdaq Group technology supports the operations of over 60 exchanges, clearing organizations and central securities depositories in more than 50 countries. OMX Nordic Exchange is not a legal entity but describes the common offering from Nasdaq Group exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about Nasdaq, visit www.Nasdaqomx.com.

Mark Fisher
Head of Corporate Communications,
DIFX
Tel: +971 4 3612220
Mob: +971 50 6245805
Email: Mark.fisher@difx.ae