SICO UAE‎ Becomes Member of Nasdaq Dubai’s Derivatives Market

The market currently consists of single stock futures on ‎contracts of 17 ‎leading UAE-listed companies. ‎

Securities & Investment Company UAE (SICO UAE), a subsidiary of ‎Bahrain-based wholesale bank‏ ‏SICO, has obtained membership to ‎Nasdaq Dubai’s derivatives market. The collaboration allows SICO UAE‎‏ ‏to provide its clients in the GCC ‎and beyond with access to the exchange, which lists regional and ‎international shares in the Middle East.‎

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As an individual member of Nasdaq Dubai, SICO will be able to clear ‎its own trades and those of its clients, adding to its successful list of services ‎which includes brokerage, market making, asset management, investment ‎banking and custody and fund administration. The agreement will also ‎further strengthen liquidity, pricing, and trading services offered to the ‎bourse’s investors.  ‎

As an expanding and liquid exchange with a broad international investor ‎base, Nasdaq Dubai provides attractive opportunities to make markets in a ‎variety of securities. The market currently consists of single stock futures on ‎contracts of 17 leading UAE-listed companies. The exchange plans to increase its range of equities including listing further initial ‎public offerings (IPOs).

SICO UAE serves mainly institutional and high net worth individuals. ‎The company deepens its relationship with Nasdaq Dubai as the bourse develops ‎new asset classes and expands as the ‎region’s international listing centre for high quality companies.‎

Najla Al Shirawi, Chairperson of SICO UAE, commented: “Nasdaq Dubai’s expanding equity ‎derivatives market offers attractive investment opportunities to our growing range of ‎mainly institutional and high net worth individual clients and paves the way for us to ‎introduce new investment products which our markets until recently were lacking the tools ‎to make such products feasible. Benefits to investors include the ability to hedge and take ‎a position on the expected movement of UAE share prices, both up and down, using ‎leverage to magnify the financial outcome of their futures trades.”‎

Hamed Ali, Chief Executive of Nasdaq Dubai, added: “SICO UAE provides a ‎significant new investor channel into our equity derivatives market as we prepare for ‎further growth, which will in due course include the addition of a variety of futures products ‎on regional share markets. Our cooperation with SICO, backed by its substantial ‎brokerage and other expertise and experience around the GCC, will support the ‎continuing expansion of the region’s capital markets framework.”

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