Nasdaq Dubai, the Gulf-based exchange that has struggled with slow growth since its launch in 2005, has reported a dramatic jump in trading volumes and appointed a new head of regulation, a move that should tackle transparency concerns and attract more traders to the emerging market.

Equity trading at the exchange, which was known as the Dubai International Financial Exchange until mid-November last year when it re-branded and took the Nasdaq name, increased 62% in the first quarter compared to the same period last year, and 27% on the last quarter of last year.