(MENAFN- Khaleej Times) The Nasdaq Dubai exchange launched the equity index futureson Sundayfor the main indexes of Dubai Financial Market and the Abu Dhabi Securities Exchange, a top official said.
The new instruments could help to attract fresh money to the exchanges by giving investors more opportunity to hedge. Nasdaq Dubai began trading single-stock futures for shares in some of the UAE's biggest companies in late 2016.
"This is one of the templates for stock markets in the UAE and how they can complement each other," Hamed Ahmed Ali, chief executive of Nasdaq Dubai, said.
Trading volumes in many of the single-stock futures have been modest since they were launched. However, Ali said investors' response to them had been encouraging, with 17 UAE-listed companies currently covered, up from an original seven, and the number of brokerages involved rising to nine from four.
Nasdaq Dubai's website showed Dubai index futures, due to expire on June 21, trading at 3,328on Sundaymorning, while the underlying index was down 0.6 per cent at 3,310 points. Abu Dhabi index futures were at 4,560 while the index was up 0.2 per cent at 4,586 points.
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