Stock market opened with modest gain on Wednesday marking third consecutive session in the upward gain
The Dubai Financial Market (DFM) on Sunday announced that it will launch three new equity future contracts next week as part of its efforts to diversify investment opportunities.
In a statement, the region's only listed bourse said the new equity future contracts on individual stocks of three leading listed companies will be including Dubai Investments, DFM Company and Shuaa Capital on September 19, 2021.
The move will bring total number of contracts to 33 on individual stocks of 11 listed companies with tenures of 1, 2 and 3 months, the statement said.
Hassan Al Serkal, chief executive of the DFM, said the rapid expansion of the DFM equity futures market underlines “our commitment" to diversify opportunities.
“It also caters to investors’ growing demand on this product, as they are seeking to diversify and hedge their portfolios as well as to access leverage in order to maximise their transactions and returns,” he said.
Since its launch on October 18, 2020, the DFM equity futures market has been witnessing active participation from investors and brokers alike. Total value of trading on contracts reached to Dh119 million through 336,000 traded contracts.
Wael Makarem, senior analyst at Exness, said that limited financial products in the Arabian bourses was always a downside factor to expansion and growth. Finally, stock exchanges are meeting clients demand.
"Such steps will provide investors with the opportunity to diversify or hedge their portfolios or even take on larger risks when favoured. What’s more, expanding the offering will likely attract more foreign investors that are seeking to invest in the promising Mena region and increase liquidity as volumes rise," he said.
Investors can trade DFM equity futures through 8 brokerage firms including BHM Capital Financial Services, Al Ramz Capital, International Securities, EFG Hermes (UAE), Mena Corp Financial Services, SICO Financial Brokerage, Al Dar Shares and Bonds and Arqaam Securities.
— muzaffarrizvi@khaleejtimes.com
Stock market opened with modest gain on Wednesday marking third consecutive session in the upward gain
Union warned it could order several days of strike action over a busy May holiday weekend if its demands are not met
Humidity is set to rise during the night and into Thursday morning
Text messages, social media posts, chatroom messages, altered images, and videos are just a few avenues through which cyberbullying can occur
The building in Muhaisnah 4 had suffered structural damage last week and has been sealed off as authorities conduct investigations
Al Ain, which knocked out Cristiano Ronaldo's Al Nassr in the quarterfinals, reached the final for the first time since 2016
Defeat leaves Chelsea still in ninth, three points adrift of the European places
Liverpool left some key players out of their starting line-up for Sunday's 3-1 win at Fulham