Dubai – Mubasher: Nasdaq Dubai will add Abu Dhabi Commercial Bank (ADCB) and Union Properties (UPP) to its equity futures market, according to a statement.
As a result, the number of UAE companies on which futures can be traded is increased to nine.
The market opened on 1 September to provide regional and international investors with new tools for investment and wealth protection.
On 23 October, ADCB and UPP will join seven other UAE-listed companies including Aldar Properties, Arabtec Holding, DP World, Dubai Islamic Bank, DXB Entertainments, Emaar Properties and Etisalat.
“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,” according to Hamed Ali, CEO of Nasdaq Dubai.
A total of 43,219 single stock futures contracts have traded since the market opened, the statement said, adding that one contract represents 100 shares.
Nasdaq Dubai plans to expand 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.
