DUBAI (Reuters) – Abu Dhabi Securities Exchange (ADX) said on Wednesday it plans to launch a derivatives market in the fourth quarter of this year.
The stock exchange will introduce single stock futures and index futures, it said in a statement, before expanding to a wider range of derivatives products.
ADX said it signed an agreement with Nasdaq to deliver marketplace technology solutions, including matching, real-time clearing and settlement technology.
The market is expecting a slew of initial public offerings (IPOs) this year as state entities look to monetise assets. Abu Dhabi National Oil Co is planning an IPO of its drilling business and a flotation of Fertiglobe, a fertiliser joint venture with Dutch-listed chemical producer OCI, later this year.
Reporting by Hadeel Al Sayegh; Editing by Steve Orlofsky