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The Abu Dhabi Exchange (ADX) has launched five more single stock futures, further developing its derivatives market.
From 6 October, stock futures for Abu Dhabi Islamic Bank (ADIB), Abu Dhabi Commercial Bank (ADCB), Fertiglobe, Borouge and AD Ports will be traded on the ADX derivatives market.
#AbuDhabi_Securities_Market zoom
Its derivatives were added by adding five single-share futures contracts. More: https://t.co/GgOgFkwoLLADX expands its range #derivative Products with more than 5 single stock futures. More: https://t.co/WFnuUZf7p2 pic.twitter.com/zBcs39Z1yF
— Abu Dhabi Stock Exchange (@ADX_AE) October 6, 2022
In less than a year, the exchange’s total number of derivatives products has doubled to 10. Launched in November 2021, the derivatives market provides investors with two-way market exposure.
read: Abu Dhabi Stock Exchange launches derivatives market
The market began trading single stock futures from Etisalat, First Abu Dhabi Bank, International Holding Company, ADNOC Distribution and Aldar Properties. A futures contract on the FTSE ADX 15 (FADX 15) index was subsequently launched in June 2022.
read: UAE’s ADX launches FADX 15 futures, the exchange’s first index derivatives
Saeed Hamad Al Dhaheri, Managing Director and CEO of Abu Dhabi Stock Exchange, commented: “The expansion of derivatives market offerings is important for ADX to develop into a vibrant trading hub for investors and issuers.”
ADX entered into an agreement with Nasdaq in September 2021 to deploy market technology solutions for derivatives markets, including matching, real-time clearing and settlement technology. The launch of the derivatives market was also accompanied by the introduction of central counterparty clearing (CCP).
According to the Arab Monetary Fund (AMF), ADX recorded the highest gain in terms of market capitalization and transaction value at the end of the second quarter of 2022. ADX’s market capitalization increased by $29.23 billion, from $513.19 billion at the end of Q1 2022 to $542.42 billion in Q2 2022.
read: UAE’s ADX sees highest gain in market and transaction value in Q2 2022: AMF
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