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Daman Securities, one of the UAE’s most prominent brokerages, has joined Nasdaq Dubai as a member to trade equity derivatives. The move enables clients of Daman Securities to make gains whether share prices rise or fall, by trading futures on the exchange.
The addition of Nasdaq Dubai futures trading is a further step in Daman Securities’ growth strategy, which included becoming a member of Nasdaq Dubai’s equity market in March 2017. Daman Securities has played a pioneering role in the development of the UAE’s equity markets for 20 years.
Daman Securities’ derivatives membership comes as Nasdaq Dubai is preparing to further expand its futures platform significantly within the UAE and elsewhere in the GCC, in terms of product offerings, broker participation and investor access.
Commenting on the announcement, Nabil Al Rantisi, Managing Director of Capital Markets at Daman Investments, said, "Nasdaq Dubai’s equity derivatives market enables us to offer attractive new hedging and investment opportunities to our clients including institutions and high net worth individuals. The exchange’s single stock and index futures, combined with leverage and the margin facilities that we can provide, are flexible tools that enhance investors’ ability to make gains and protect the value of their existing portfolios."
Hamed Ali, Chief Executive of Nasdaq Dubai, said, "Daman Securities brings valuable experience and expertise to our derivatives market as well as strong links to a broad range of potential new investors as we prepare for further growth. We look forward to strengthening our collaboration with Daman Securities to support the continuing expansion of the region’s capital markets framework."
Nasdaq Dubai’s equity derivatives market currently comprises single stock futures on 17 leading UAE-listed companies including DP World, Emaar Properties and First Abu Dhabi Bank. Futures on Dubai Financial Market’s DFMGI index and Abu Dhabi Securities Exchange’s ADI index are also traded on the market.
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