ADCB and Union Properties join Dubai futures market

Nasdaq buildingNasdaq Dubai will add Abu Dhabi Commercial Bank (ADCB) and Union Properties (UPP) to its roster of single-stock equity futures.

The additions mean there will be nine companies on which investors can trade futures contracts. The exchange began offering single-stock equity futures in September in a revival of an initiative begun in 2008.

“The addition of ADCB and UPP on the equity futures market highlights the progress undertaken since its inception in September,” said Abdul Rahman Hareb Rashed Al Hareb, chairman of Shuaa Capital, which provides market-making services.

The two new firms join Aldar Properties, Arabtec Holding, DP World, Dubai Islamic Bank, DXB Entertainments, Emaar Properties and Etisalat.

“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,” said Hamed Ali, chief executive of Nasdaq Dubai.

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