Dubai – Mubasher: Nasdaq Dubai exchange said it plans to open an equity futures market by next September to trade single-stock futures on the shares of some of the UAE’s biggest companies.
From September 1, Nasdaq Dubai will initially trade futures in 10 UAE stocks, which accounted for about 55 per cent of the traded value of all listed equities in the country, according to Nasdaq Dubai official website.
These stocks are Aldar Properties, Arabtec, Damac Properties, DP World, Dubai Islamic Bank, Dubai Parks and Resorts, Emaar Properties, Etisalat, First Gulf Bank and Union Properties.
Futures contracts will have maturities of one, two or three months and be settled in cash. Each contract will provide exposure to 100 underlying shares, with Shuaa Capital providing market-making services.
