Naeem joins Nasdaq Dubai’s futures market

Naeem Shares & Bonds, a brokerage owned by Egyptian investment bank Naeem Holding, has joined the Nasdaq Dubai equity futures market as a member.

The firm is the seventh brokerage to join the futures market, which now offers single-stock futures on nine UAE-listed companies, said Nasdaq Dubai in a statement.

“We look forward to bringing new clients from the MENA region as well as Europe and the US to trade on the futures market, as part of our expansion plan to develop our brokerage activities,” said Youssef El Far, chairman of Naeem Shares & Bonds.

Naeem Shares & Bonds was established in the UAE in 2005 and gained a licence in 2014 to offer clients foreign equity markets.

The futures market on Nasdaq Dubai now offers contracts on Emaar Properties, DXB Entertainments, Abu Dhabi Commercial Bank, Aldar Properties, Arabtec Holding, DP World, Dubai Islamic Bank, Etisalat and Union Properties.

The exchange first launched equity futures in 2008 but the initiative foundered during the financial crisis. It was revived in September 2016.

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