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DUBAI, Sept. 1 (Reuters) – Abu Dhabi Securities Exchange (ADX) said on Wednesday it plans to launch a derivatives market in the fourth quarter of this year.
The exchange will introduce some stock futures and index futures, it said in a statement, before expanding to a wider range of derivative products.
ADX said it has signed an agreement with Nasdaq to provide 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 activities and an IPO of Fertiglobe, a fertilizer joint venture with Dutch chemical producer OCI, later this year.
(Reporting by Hadeel Al Sayegh; editing by Steve Orlofsky)
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