Nasdaq will take a 33 percent stake in the Dubai International Financial Exchange, invest a further $50 million and allow Dubai to use its name in the Middle East, North Africa and South Asia, Borse Dubai said.
Under its share-swap deal with Nasdaq over Sweden-based bourse operator OMX, state-owned Borse Dubai will also have a separate joint venture agreement with Nasdaq in China, Borse Dubai Chairman Essa Kazim told Reuters from Stockholm on Thursday.
"The great thing for us is that we will now be able to use the Nasdaq brand in the MENA region and the sub-continent," Kazim said. The Dubai International Financial Exchange will be re-named Nasdaq DIFX, Kazim said.