The Emirati stock market consists of 3 stock exchanges: the Abu Dhabi Securities Exchange that lists local companies, the NASDAQ Dubai for international stocks and the Dubai Financial Market (DFM) which is the main stock exchange in the United Arab Emirates. DFM is headquartered in Dubai, the country's largest and most populous city which functions as a global financial centre. It is governed and regulated by the Securities and Commodities Authority, lists 178 companies and has a total market cap of $89 billion. The exchange also houses bonds, ETFs and other financial instruments. Among the listings are well-known and actively traded companies such as the Commercial Bank of Dubai, Emaar Properties, Arabtec, Air Arabia and Emirates NBD. The exchange operates the DFM General Index, which is widely seen as the benchmark equity index for the Emirati market and provides a balanced picture of its performance. The constituents are reviewed biannually and contribute to the index proportionally to their market capitalization. DFM also manages indices that reflect the performance of different sectors and industries such as Real Estate & Construction, Investment & Financial Services, etc.