Dubai: NAEEM Shares & Bonds (NSB) brokerage has joined Nasdaq Dubai’s equity futures platform as a Member, in order to connect its UAE, Egyptian and international clients to the fast growing market, the bourse said in a statement.
As a subsidiary of NAEEM Holding, one of the region’s most prominent investment banks, NAEEM Shares & Bonds brings in substantial know-how and market awareness to support futures trading through a wide range of institutional, high net worth and other individual investors.
“Many of our clients see Nasdaq Dubai’s equity futures as ideal tools for hedging their portfolios, or as an indication on share prices’ direction. We look forward to bringing new clients from the MENA region as well as Europe and the US to trade on the futures market, as part of our expansion plan to develop our brokerage activities,” Yousuf Al Far, Chairman of NAEEM Shares & Bonds said in a statement.
Response
The market currently consists of single stock futures on contracts on nine leading UAE-listed companies: Emaar Properties, DXB Entertainments, Abu Dhabi Commercial Bank, Aldar Properties, Arabtec Holding, DP World, Dubai Islamic Bank, Etisalat and Union Properties.
A total of 653,471 contracts have traded on Nasdaq Dubai’s equity futures market since it opened on September 1, 2016, with traded value increasing every month.
The exchange intends to expand the range of contracts offered to include futures on stocks listed on other Mena exchanges, as well as equity index futures and equity options.
NAEEM Shares & Bonds is the seventh brokerage to join the futures market as a Member.
