Nasdaq Dubai expands futures market
Nasdaq Dubai is expanding its suite of equity futures with
the addition of Abu Dhabi Commercial Bank and Union Properties single stock
futures.
The exchange will add Abu Dhabi Commercial Bank (ADCB) and
Union Properties (UPP) to its equity futures market on October 23, bringing the number of UAE firms on which futures can be traded to nine.
“The addition of ADCB as a prominent bank and UPP as a leading property company provides attractive new opportunities for investors wishing to take a range of positions in the UAE capital markets.
"The benefits of leverage, and the ability to make gains when
underlying shares are falling as well as rising, are among the innovative features
that the market offers,” said Hamed Ali,
chief executive of Nasdaq Dubai in a statement.
The exchange also said that a total of 43,219 single stock futures contracts have traded since the market opened on September 1 with some 20 futures based on seven individual firms. SHUAA Capital is the market maker for all the futures traded on the market.
Furthermore, Nasdaq plans a phased expansion of its futures
market in coming months, including futures and options on shares of other
companies listed on MENA exchanges, as well as futures on equity indices.
As reported by FOW earlier this year the Dubai Gold
and Commodities Exchange (DGCX) launched a suite of single stock futures
contracts – its first equity futures – to provide access to Indian and US
stocks, including Facebook, Google, JP Morgan, Apple, Ifosys and Tata Motors.
The Dubai exchange said in June that it plans to treble the number of single stock futures contracts
it offers by the end of 2016 to 45.
Found this useful?
Take a complimentary trial of the FOW Marketing Intelligence Platform – the comprehensive source of news and analysis across the buy- and sell- side.
Gain access to:
- A single source of in-depth news, insight and analysis across Asset Management, Securities Finance, Custody, Fund Services and Derivatives
- Our interactive database, optimized to enable you to summarise data and build graphs outlining market activity
- Exclusive whitepapers, supplements and industry analysis curated and published by Futures & Options World
- Breaking news, daily and weekly alerts on the markets most relevant to you