Abu Dhabi: Trading on Nasdaq Dubai’s equity futures market increased in November as new investors entered the market, with a total of 222,829 contracts traded during the month, up 116 per cent from 103,393 in October.
The leading contracts by volume in November were Union Properties, Arabtec, and DXB Entertainments. The most active broker in November was Menacorp, followed by Al Ramz Capital, and Mubasher.
Menacorp recently posted 63.4 per cent market share in terms of trading volume, according to market’s official data.
“The futures market serves as a valuable tool that certain businesses depend on to reduce their risks. Looking at the success stories of international futures markets, we can say with confidence that equity futures will soon rise to become an important segment in the coming years,” said Racha Al Khawaja, Head of Institutional Coverage at Menacorp.
The equity futures market offers single stock futures contracts on nine leading UAE-listed companies: Abu Dhabi Commercial Bank, Aldar Properties, Arabtec Holding, DP World, Dubai Islamic Bank, DXB Entertainments, Emaar Properties, Etisalat, and Union Properties.
Shuaa Capital has been market-making since the market opened on September 1, while National Bank of Abu Dhabi joined as a market marker in November.
