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DIFX to launch stock futures

Dubai International Financial Exchange (DIFX) is set to launch its first stock index futures and single-stock futures in late November as part of a series of moves to help boost liquidity on the market.

    • Joe Marsh
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The index futures contract will be based on the FTSE DIFX UAE 20 index, which comprises stocks from the three exchanges in the United Arab Emirates: one DIFX stock, 12 stocks from the Dubai Financial Market (DFM) and seven from the Abu Dhabi Securities Exchange (ADX).

The single-stock futures will reference shares listed in the DIFX-listed Dubai Ports World DPW.DI, plus 12 DFM and seven ADX stocks.

DIFX has also announced other reforms aimed at attracting more volumes, such as allowing companies to list in dirhams as well as in dollars. It has already announced plans to extend trading hours and allow trading on Sundays, in line with regional practice.

The exchange, dominated by institutional investors, says it is seeking to beef up its retail investor base, a characteristic of the ADX and DFM.

See also: DIFX launches structured products platform

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