Abu Dhabi Equities Market to Launch Derivatives Offerings in Q4

Abu Dhabi Equities Market to Launch Derivatives Offerings in Q4

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 monetize assets.

Abu Dhabi National Oil Co is planning an IPO of its drilling business and a flotation of Fertiglobe, a fertilizer joint venture with Dutch-listed chemical producer OCI, later this year.