Nasdaq Dubai expanded its futures trading offering, adding contracts in First Abu Dhabi Bank (ticker: NBAD), Dubai Financial Market and Dubai Investments.
The addition of the three names, which became effective on April 2, takes the total number of companies on which futures can be traded on the exchange to 12.
“The addition of three more prominent UAE companies, whose equities are widely traded, adds further depth and breadth to our futures market as a growing range of investors make use of the opportunities it provides for hedging and investment,” said Hamed Ali, Nasdaq Dubai’s chief executive.
Nasdaq launched futures trading on nine UAE stocks on September 1, offering contracts on three Abu Dhabi-listed stocks, five listed on the Dubai Financial Market and one listed on Nasdaq Dubai.
More than 1.1 million futures contracts have been traded on the bourse since September, with trading rising by 14 per cent month-on-month to 184,000 contracts in March.
The bourse said that Menacorp was the most active futures broker by value last month, followed by Al Safwa Mubasher and Integrated Securities.
Nasdaq says it plans to expand its futures market to offer options on listed companies across the Mena region.
jeverington@thenational.ae
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