NAS­DAQ DUBAI TO LAUNCH ‘ FU­TURES CON­TRACTS’ ON SAUDI FIRMS

Gulf Business - - NEWS AND VIEWS -

THE NAS­DAQ DUBAI ex­change plans to launch ‘fu­tures con­tracts’ this year on com­pa­nies listed on the Saudi Ara­bian stock mar­ket, the bourse has an­nounced. The Tadawul stock mar­ket in­dex has risen about 11 per cent this year ahead of a po­ten­tial up­grade to emerg­ing mar­kets sta­tus by in­dex firm MSCI in June, and the planned share sale of oil giant Aramco.

“The fu­tures will give in­vestors new hedg­ing tools to take long and short po­si­tions on the com­pa­nies, at a time when in­ter­na­tional in­vestor in­ter­est in the Saudi stock mar­ket is in­creas­ing rapidly,” the bourse said in a state­ment.

Fu­tures con­tracts are agree­ments to buy or sell shares at an agreed price on a fu­ture date. Nas­daq Dubai said it will of­fer fu­tures con­tracts on Saudi com­pa­nies, which are some of the re­gion’s largest busi­nesses ac­tive in sec­tors such as petro­chem­i­cals, real es­tate, bank­ing and trans­port.

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