News

Third market maker joins Nasdaq Dubai futures exchange

Indices_boardUAE-based brokerage Al Ramz Capital has become the third market maker for equities and equity futures on Nasdaq Dubai. Licensed to trade equities on the exchange since 2008, Al Ramz Capital has also traded equity futures since the market for these instruments was reopened on September 1, 2016. “Opportunities for market making will increase as the exchange adds more securities, including further equity listings as well as equity indices and equity options,” said Hamed Ali, chief executive of the exchange. A subsidiary of Dubai-listed group Al Ramz Corporation Investment & Development, Al Ramz Capital will initially support trading in futures on DP World, a maritime conglomerate, and Etisalat, a mobile network. Nasdaq Dubai listed single-stock equity futures in 2008 but the initiative, which coincided with the global financial crisis, did not gain traction. The relaunch of futures in 2016 was described as “the most significant asset class expansion to reach the Middle East for many years” by the chairman of Shuaa Capital, which provides market-making services.  ©2017 funds global mena

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