Dubai – Mubasher: Nasdaq Dubai on Tuesday announced that it has launched futures trading on the MSCI UAE equity index, one week after the exchange introduced single stock futures trading on 12 Saudi Arabian companies.
The index comprises 11 companies that are among the largest and most liquid in the UAE including DP World, Emaar Properties and First Abu Dhabi Bank (FAB).
The move is the latest expansion of Nasdaq Dubai’s futures market, the Dubai-based exchange said in a statement.
“The launch of futures on MSCI’s UAE index is the latest step in Dubai’s strategy of expanding the range of its capital markets product offerings, to cater for diverse segments of investors. We will maintain our focus on creating new ways to attract capital into the UAE and the region,” Essa Kazim, governor of Dubai International Financial Centre and chairman of the Dubai Financial Market (DFM), said.
The contracts are designed to appeal to international and regional investors seeking exposure to leading UAE companies.
“This agreement will allow a wide range of international and regional investors to access Nasdaq Dubai contracts on the MSCI United Arab Emirates Equity Index,” Robert Ansari, executive director - head of the Middle East of MSCI, commented.
