By: Mahmoud Gamal
Dubai-Mubasher: Nasdaq Dubai will launch on Thursday an equity futures market to trade single-stock futures on the shares of seven major stocks.
The stocks are Emaar Properties, Aldar Properties, DP World, Dubai Islamic Bank (DIB), Dubai Parks and Resorts, and Etisalat.
The launch of such futures market is considered as a big development for the financial markets in the UAE, according to Manaf Al Mallouhi, head of research at Elite Financial Services.
The new market will increase the UAE’s opportunities to upgrade within the advanced markets and attract foreign investments.
Futures contracts will have maturities of one, two or three months and be settled in cash, the bourse’s statement said, adding that each contract will provide exposure to 100 underlying shares, with Shuaa Capital providing market-making services.
Translated by: Julian Nabil
