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Nasdaq Dubai launches futures trading on FTSE Russell Saudi Arabia equity index

PUBLISHED ON 26-Feb-2019
Nasdaq Dubai launches futures trading on FTSE Russell Saudi Arabia equity index


  • Investors have new route to gain exposure to Saudi stock price movements
  • Launch comes ahead of Saudi Arabia’s inclusion in FTSE Russell’s Emerging Markets Index

Nasdaq Dubai today launched futures trading on FTSE Russell’s FTSE Saudi Arabia Index, which tracks 46 Saudi Arabia-listed companies. The futures are designed as investment tools for global and regional investors including funds that use the index as a benchmark for investing in Saudi equities.

The move is part of a rapid expansion of Nasdaq Dubai’s equity derivatives market covering Saudi Arabia, whose Tadawul stock market is the largest and most heavily traded in the Middle East. Nasdaq Dubai launched single stock futures trading on 12 Saudi companies last month.

Ringing the opening bell at Nasdaq Dubai MarketSite to celebrate the launch of the index futures,Waqas Samad, Chief Executive of FTSE Russell, said: “Nasdaq Dubai’s futures contracts on theFTSE Saudi Arabia Index give investors around the world an attractive new route to access the important Saudi Arabian market. The Middle East is a major focus in our plans for growth and we look forward to deepening our collaboration with Nasdaq Dubai in a range of activities across the region.”

Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said: “The launch of futures on FTSE Russell’s benchmark Saudi index reflects Dubai’s strategy of cooperating with internationally respected entities to promote capital markets excellence and increase synergies between regional markets. We are committed to further increasing the opportunities for investors in order to provide them with a widening variety of tools for enhancing their portfolios.”

Investors can use futures to obtain leverage that magnifies the outcome of their trades, as well as protect their investment positions and make gains from a variety of price movements in the underlying shares.  

Hamed Ali, Chief Executive of Nasdaq Dubai, said: “These new products will bring further investment into our region from around the world, strengthening international relationships and encouraging further cross-border cooperation. With FTSE Russell as an important strategic partner, Nasdaq Dubai will continue to enhance the capital markets landscape by creating further investable capital market products and asset classes including futures tailored to the needs of global and regional investors.”

The trading currency of the futures on the FTSE Saudi Arabia Index is Saudi riyals (SAR) and contracts are offered for two consecutive quarters. The size of one contract is five times the value of the index.

Nasdaq Dubai’s derivatives market was launched in 2016 and also offers single stock futures on 17 leading UAE-listed companies as well as 12 Saudi single stock futures, plus futures on the DFMGI index of Dubai Financial Market (DFM), the ADI index of Abu Dhabi Securities Exchange (ADX), and the MSCI United Arab Emirates Equity Index. 
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