01 Sep, 2016Nasdaq Dubai’s equity futures market opens

Nasdaq Dubai’s new equity futures market opened successfully today as scheduled. Trading took place in futures on Aldar, Arabtec, DP World, Dubai Islamic Bank, Dubai Parks and Resorts, and Emaar Properties.

The platform performed as expected, with all transactions executed smoothly. A total of 1,636 contracts traded in 163,600 shares. Al Ramz Capital was the leading broker by traded value.

A Nasdaq Dubai spokesman said: "Activity on the market looks set to increase steadily over coming months. More market participants will come on and the range of futures offered will expand in stages."

The market currently offers futures on seven leading UAE companies, including Etisalat as well as those listed above. All the companies have a share listing on Nasdaq Dubai, Dubai Financial Market, or Abu Dhabi Securities Exchange.

SHUAA Capital International is providing market making services. Broking services are provided by Al Ramz Capital, Arqaam Capital, EFG-Hermes, Integrated Securities, Menacorp and Mubasher.

The futures are traded in the same currency as the underlying stock. This is AED for all the companies except DP World, which is USD.