The Nasdaq Dubai has launched futures trading on shares of 12 Saudi Arabian companies, its first single stock futures outside of the United Arab Emirates, Trend reports referring to Al Arabiya.
The move aims to diversify financial offerings to regional and international investors, allowing them to both invest in and trade Saudi companies on the Emirati exchange.
The companies now available for futures trading on the Dubai exchange comprise a market capitalization of 794 billion Saudi riyals ($212 billion) and cover sectors including real estate, mining, banks, industrial materials and petrochemicals.
It added that Nasdaq Dubai’s senior management see promise in the kingdom’s reform agenda.
Analysts emphasized their confidence on Saudi Arabia’s planned reforms toward a more open economy and remained optimistic on the country’s outlook.