Abu Dhabi - Mubasher: The Abu Dhabi Securities Exchange (ADX) has signed an agreement with Nasdaq to launch a derivatives market to offer marketplace technology solutions, including matching, real-time clearing, and settlement technology.
The agreement is part of ADX's objective to expand asset classes and develop new offerings for regional and international investors, according to a press release on Wednesday.
Before its expansion to a wider range of derivative products, the market plans to launch single stock futures and index futures in the fourth quarter (Q4) of 2021.
The derivatives market will be accompanied by central counterparty clearing (CCP) to promote clearing efficiency, stability, and confidence in the market.
The Chairman of ADX, Mohammed Ali Al Shorafa Al Hammadi, said: "By deepening our capital markets and increasing the range of innovative products and services, we are supporting the UAE’s strategy for economic diversification, providing growth companies with favorable access to global capital and allowing investors to participate in the UAE’s ambitions."
Meanwhile, the CEO of ADX, Saeed Hamad Al Dhaheri, commented: "Our strategy is to ensure that investors and issuers derive significant benefits of a sophisticated marketplace by investing further in technology, broadening our offering, and attracting a wider range of institutional investors."
