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NASDAQ Dubai today announced the names of 12 Saudi companies that will launch future equity contracts in September 2018. These 12 Saudi companies are among the largest in the Middle East and focus their activities in various sectors. : real estate, petrochemicals, banking and transport. The total market value of these companies is SAR 859 billion ($ 229 billion), which is 43% of the market value of Tadawul, one of the largest securities markets in the region.
These 12 companies include Saudi Basic Industries Corporation (SABIC), Al Rajhi Bank, Al Enma Bank, Al Marai, Dar Al Arkan Real Estate Development Corporation, Etihad Etisalat, Rabigh Refining and Petrochemical Company, Saudi Arabian Mining Company, Saudi Cement Company, Saudi Electricity Company, Saudi Kayan Petrochemical Company and Al Tayyar Travel Group.
"We are excited to offer investors new products that offer unique access to the region's financial markets that support their ability to play an active and effective role," said Hamed Ali, CEO of NASDAQ Dubai. Opportunities for integration and interdependence among financial markets in the region. "
The future NASDAQ Dubai contracts will allow investors to make profits against the rise or fall in share prices, which will boost investors' interest in Saudi financial markets.
Individual equity futures will be traded on NASDAQ Dubai in Saudi Arabian Riyal (SAR), the reference currency for Saudi shares. The TASI TASI index has increased by 16% since the beginning of the year.
The value of trading on the stock market amounted to 475 billion RS, up 9% over the same period of last year. MSCI and FTSE announced earlier this year that they will join the Saudi market in the Emerging Markets Index.
NASDAQ Dubai launched in September 2016 futures on seven companies listed in the United Arab Emirates. Since then, this number has risen to 17 in February 2018. The exchange has added futures to DFMGI and ADI at the Abu Dhabi Securities Market.
In May 2018, Nasdaq Dubai announced that it would launch future contracts on individual Saudi shares. NASDAQ Dubai attracts more participants to join the derivatives market as it develops.
This expansion will include investment products, including futures on various stock exchanges and stock exchanges in the region, as well as the launch of the product of options.
The futures market is currently operating with leading brokerage firms in the GCC region as members and with two active market makers in the UAE equity futures.
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- United Arab Emirates
Stock Exchange
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