Dubai – Mubasher: Nasdaq Dubai stock exchange on Tuesday announced signing licence agreement with MSCI to use the latter’s regional indices for creating derivative products and trading them on the Nasdaq Dubai’s derivatives platform.
The exchange aims to develop futures contracts based on the MSCI UAE index, which will give global fund investors in the UAE access to portfolio replication and hedging, according to a company statement.
“As we successfully completed the first year of trading single stock futures on our derivatives platform, we are keen to move to the next phase of growth and introduce index futures,” said Hamed Ali, NASDAQ Dubai’s CEO.
“The MSCI licence is in response to popular demand from our institutional brokers who help global institutional investors manage UAE-focused portfolios,” the top official added.
“Nasdaq Dubai is the ideal partner for this project,” said Robert Ansari, head of the MSCI for the Middle East, adding that the MSCI’s indices are focused on “liquidity and investability” and incorporate many regional leading companies.
Over 2.5 million futures were traded since the opening of the Nasdaq Dubai market in September 2016.
