THE VALUE of equities traded on the Irish stock exchange in the third quarter was €27.2 billion, a 47 per cent drop on the same period last year.

The value of equities traded in the first nine months of the year was €95.9 billion, a drop of 37 per cent on last year's equivalent figure.

"These decreases can be attributed to the general fall in the share prices of companies trading on the exchange as a result of the current market turmoil, particularly in the financial sector," a spokesman for the exchange said. In quarter three, 1,208 new debt instruments were listed on the Irish stock exchange, bringing the total number to 25,374.

The third quarter of 2008 also saw 132 new funds and sub-funds listing on the exchange, bringing the total number of investment funds on the exchange's markets to 4,290.

Notable funds listings in this quarter included funds issued by such institutions as SGAM, Deutsche Bank, Collins Stewart and ETF Securities.

Volatile market conditions contributed to significant growth in the number of trades reported to the exchange during quarter three.

The nine-month trade levels of over 1.84 million represent an historical high, exceeding the total number of trades reported to the exchange in any previous full calendar year.

The quarter also saw the introduction of a new listing regime for investment funds targeted at super-sophisticated investors, as well as a streamlining of listing rules for closed-end investment funds.