Mubasher: Nasdaq Dubai on Monday said that Brokerage House Securities (BHS) has been the most active broker in trading activities of Saudi futures since the exchange launched on 9 January, with a stake over 90%, excluding liquidity provision.
BHS has also been the most active broker among Saudi futures in terms of trading value during the previous six months, while it acquired around a 50% stake of trading, with the exception of market makers, according to a statement.
“Interest in trading Nasdaq Dubai’s equity futures market is increasing rapidly among our GCC and overseas clients, many of which now include the futures contracts as a key component of their investment portfolio,” BHS’ managing director Abdul Hadi Al Sadi commented.
The futures provide them with unique instruments to gain exposure to the UAE and Saudi stock markets, he added.
Nasdaq Dubai plans to raise cooperation with BHS during the coming period in a bid to expand derivatives market in view ofBHS’s key role in enhancing futures market, Nasdaq Dubai’s CEO Hamed Ali said.
Founded in 2005 as a subsidiary of the UAE-based KBBO Group, BHS is currently managing portfolio in the Middle East and the UAE stock exchanges.