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Nasdaq Head Commends Region's Capital Markets and Government Support
 

Adena Friedman shared insights on recent market movements at WGS 2018

Dubai-UAE: 13 February, 2018 –   “The rapid advancement of capital markets in the GCC region is hugely beneficial not just to local investors but also to international investors looking to get more involved in the stocks traded here,” said Adena Friedman, President and Chief Executive Officer of Nasdaq, on the second day of the sixth World Government Summit (WGS 2018) in Dubai.

In a session entitled ‘How to Tame a Volatile Market’, Friedman shared her insights on a range of topics including the role of government in market movements and cryptocurrencies.

Nasdaq serves as a technology provider to 90 markets in the world and a technology partner to many of the exchanges in the Middle East, including Nasdaq Dubai and Tadawul in Saudi Arabia. 

Friedman said: “We've been working for many years in the region to advance the markets and their technology to ensure they provide a fair, transparent marketplace. As their economies continue to grow and expand, their capital markets are also expanding with them.”

Speaking on the recent market movements that triggered a wave of concern globally, Friedman dismissed any suggestions of algorithms or AI as the cause. “It was human reaction and emotion at work. As growth comes in, inflation becomes a risk, and some people saw it as the moment to cash out”.

She added: “The markets here have been doing a great job in terms of developing a robust regulatory oversight that allows for fair trading. The role of governments and regulation is to facilitate supply and demand as efficiently as possible and create a level playing field. Regulation should not hinder supply and demand but facilitate them effectively.”

In relation to cryptocurrencies, Friedman noted: “The American Securities and Exchange Commission (SEC) has determined that it is still too early to consider exchange-traded funds (ETFs) with respect to cryptocurrencies because of its unregulated nature.”

Government Summit 2018 runs from February 11 to 13 at the Madinat Jumeirah in Dubai. The landmark event convenes more than 4,000 participants from 140 countries, including heads of state and governments, as well as top-tier representatives of 16 international organizations.

Hosting more than 130 speakers across 120 interactive sessions, WGS 2018 features six distinct forums that examine the challenges of vital sectors for the future with a view to finding the best resolutions for the greater global good. Furthermore, over 20 specialized global reports spanning key sectors and topics of the summit are being launched during the event.


Posted by : Dubai PR Network Editorial Team
Viewed 6149 times
PR Category : Government, Legal & Humanity
Posted on : Tuesday, February 13, 2018  9:19:00 AM UAE local time (GMT+4)
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