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.
FOW will host our Trading GCC
event in partnership with Nasdaq Dubai on the 15 November at
the Sheraton Grand Hotel in Dubai. For more information and to