Abu Dhabi Commercial Bank, Union Properties join Nasdaq Dubai equity futures market

Nasdaq Dubai will add Abu Dhabi Commercial Bank (ADCB) and Union Properties (UPP) to its equity futures market.

© Press Release 2016

Arrival of ADCB and UPP raises number of underlying UAE companies to nine· Phased growth of market will include equity indices in due course


Dubai – Nasdaq Dubai will add Abu Dhabi Commercial Bank (ADCB) and Union Properties (UPP) to its equity futures market, raising the number of leading UAE companies on which futures can be traded to nine.

The market opened on September 1, 2016, to provide regional and international investors with unique new tools for investment and wealth protection. On October 23, 2016, ADCB and UPP will join seven other UAE-listed companies on which futures have been offered from the outset: Aldar Properties, Arabtec Holding, DP World, Dubai Islamic Bank, DXB Entertainments, Emaar Properties and Etisalat.Market making services on all the futures are provided by SHUAA Capital.

Hamed Ali, Chief Executive of Nasdaq Dubai, said: “The addition of ADCB as a prominent bank and UPP as a leading property company provides attractive new opportunities for investors wishing to take a range of positions in the UAE capital markets. The benefits of leverage, and the ability to make gains when underlying shares are falling as well as rising, are among the innovative  features that the market offers. ”

A total of 43,219 single stock futures contracts have traded since the market opened. One contract represents 100 shares.

Abdul Rahman Hareb Rashed Al Hareb, Chairman of SHUAA Capital said: “The addition of ADCB and UPP on the equity futures market highlights the progress undertaken since its inception in September. The ongoing development of the UAE financial markets is a source of great pride for all involved. In addition, their listing will also contribute positively to market liquidity. We are pleased to be the lead market marker for the nine listed companies.”

Nasdaq Dubai plans a phased expansion of its futures market in coming months, including futures and options on shares of other companies listed on MENA exchanges, as well as futures on equity indices.

Brokerage services are provided to the market by Al Ramz CapitalArqaam Capital, EFG Hermes,  Integrated Securities, Menacorp and Mubasher Financial Services Dubai. Nasdaq Dubai is in discussion with other regional and international financial institutions that are also interested in providing services to the market.

About Nasdaq Dubai
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS).

The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake.  Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).

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