The UAE Securities & Commodities Authority (SCA) approved the first reit IPO on the Dubai Financial Market. Reuters
The UAE Securities & Commodities Authority (SCA) approved the first reit IPO on the Dubai Financial Market. Reuters
The UAE Securities & Commodities Authority (SCA) approved the first reit IPO on the Dubai Financial Market. Reuters
The UAE Securities & Commodities Authority (SCA) approved the first reit IPO on the Dubai Financial Market. Reuters

Dubai Financial Market to offer derivatives trading from next month


Deepthi Nair
  • English
  • Arabic

The Dubai Financial Market will launch a new derivatives trading platform next month.

The platform will begin by offering futures contracts on five single stocks with tenures of one, two and three months. The five initial equities on which contracts will be offered are Emaar Properties, Emirates NBD, Dubai Islamic Bank, Emaar Development and Emaar Malls.

“As part of DFM’s efforts to diversify its product offerings, we are leveraging the vast experience and capabilities of DFM Group’s members, including DFM, Dubai Clear and Nasdaq Dubai, to launch a derivatives platform as a key milestone in [our] journey,” said Essa Kazim, chairman of DFM.

The platform will play an essential role in broadening and deepening the market

“The platform will play an essential role in broadening and deepening the market, adding new impetus to Dubai’s position as a dynamic capital markets hub.”

A futures contract is an agreement between two sides to buy or sell at a specific price on a future date. Each DFM contract will be based on 100 underlying shares. Investors will be able to trade equity contracts by opening an account with a DFM-licensed derivatives member.

The DFM said derivatives trading would allow investors to diversify and hedge their portfolios and access leverage.

The bourse's move is part of a broader shift in the region by bourses to diversify their product offerings. Nasdaq Dubai has offered futures contracts on a UAE market index and some UAE equities for more than a decade but over the past two years has introduced single stock futures contracts on Saudi Arabian equities, as well as a Saudi market index.

Tadawul, the region's biggest stock market, began derivatives trading last month, offering an index futures contract on the MSCI Tadawul 30 share index. It also plans to broaden out into single stock futures and options contracts, and is weighing up the possibility of offering commodities futures, chief executive Khalid Al Hussan has said.

DFM's platform will add other derivatives products, including index-based futures contracts, in due course, it added.

The market attracted 1,718 new investors in the first half of the year, lifting its investor base to 845,770, DFM said in July when unveiling half-year results. Foreign investors accounted for 49 per cent of trading value and 18.2 per cent of market capitalisation. Like many global bourses, the market witnessed turbulent trading throughout the course of the year but this contributed to an increase in both the number and value of shares traded. Last month, more than Dh7.1bn of shares were traded, compared to nearly Dh4bn in January, according to Kamco Research. The number of trades also virtually doubled to 96,664 over the same period.

The DFM has created “a robust regulatory framework in line with international best practices for active participation from investors and licensed brokers in futures trading and market making”, Hassan Al Serkal, chief executive of the DFM, said.

DFM equity futures will be cleared through its subsidiary, Dubai Clear, using Nasdaq Dubai’s infrastructure. The introduction of a central counterparty will ensure “efficient use of collateral by clearing members to optimise market liquidity”, said Maryam Fekri, chief executive of Dubai Central Clearing and Depository Holding.

The DFM will organise webinars and awareness sessions for brokers and investors to explain the details of contracts, trading rules and clearing arrangements for the new equity derivatives platform.

Hamed Ali, chief executive of Nasdaq Dubai and deputy chief executive of the DFM, said there is “strong demand from investors in the UAE and beyond for futures”.

The specs: 2018 Opel Mokka X

Price, as tested: Dh84,000

Engine: 1.4L, four-cylinder turbo

Transmission: Six-speed auto

Power: 142hp at 4,900rpm

Torque: 200Nm at 1,850rpm

Fuel economy, combined: 6.5L / 100km

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Kat Wightman's tips on how to create zones in large spaces

 

  • Area carpets or rugs are the easiest way to segregate spaces while also unifying them.
  • Lighting can help define areas. Try pendant lighting over dining tables, and side and floor lamps in living areas.
  • Keep the colour palette the same in a room, but combine different tones and textures in different zone. A common accent colour dotted throughout the space brings it together.
  • Don’t be afraid to use furniture to break up the space. For example, if you have a sofa placed in the middle of the room, a console unit behind it will give good punctuation.
  • Use a considered collection of prints and artworks that work together to form a cohesive journey.
While you're here

Michael Young: Where is Lebanon headed?

Kareem Shaheen: I owe everything to Beirut

Raghida Dergham: We have to bounce back

EMERGENCY PHONE NUMBERS

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

You Were Never Really Here

Director: Lynne Ramsay

Starring: Joaquim Phoenix, Ekaterina Samsonov

Four stars

Global Fungi Facts

• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3ESplintr%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMay%202019%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EMohammad%20AlMheiri%20and%20Badr%20AlBadr%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20and%20Riyadh%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Epayments%20%2F%20FinTech%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESize%3A%20%3C%2Fstrong%3E10%20employees%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3Eundisclosed%20seven-figure%20sum%20%2F%20pre-seed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStage%3A%20%3C%2Fstrong%3Eseed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3Eangel%20investors%3C%2Fp%3E%0A
PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

Common%20symptoms%20of%20MS
%3Cul%3E%0A%3Cli%3EFatigue%3C%2Fli%3E%0A%3Cli%3Enumbness%20and%20tingling%3C%2Fli%3E%0A%3Cli%3ELoss%20of%20balance%20and%20dizziness%3C%2Fli%3E%0A%3Cli%3EStiffness%20or%20spasms%3C%2Fli%3E%0A%3Cli%3ETremor%3C%2Fli%3E%0A%3Cli%3EPain%3C%2Fli%3E%0A%3Cli%3EBladder%20problems%3C%2Fli%3E%0A%3Cli%3EBowel%20trouble%3C%2Fli%3E%0A%3Cli%3EVision%20problems%3C%2Fli%3E%0A%3Cli%3EProblems%20with%20memory%20and%20thinking%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Cry Macho

Director: Clint Eastwood

Stars: Clint Eastwood, Dwight Yoakam

Rating:**

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%203S%20Money%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20London%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ivan%20Zhiznevsky%2C%20Eugene%20Dugaev%20and%20Andrei%20Dikouchine%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%245.6%20million%20raised%20in%20total%3C%2Fp%3E%0A
How%20to%20avoid%20getting%20scammed
%3Cul%3E%0A%3Cli%3ENever%20click%20on%20links%20provided%20via%20app%20or%20SMS%2C%20even%20if%20they%20seem%20to%20come%20from%20authorised%20senders%20at%20first%20glance%3C%2Fli%3E%0A%3Cli%3EAlways%20double-check%20the%20authenticity%20of%20websites%3C%2Fli%3E%0A%3Cli%3EEnable%20Two-Factor%20Authentication%20(2FA)%20for%20all%20your%20working%20and%20personal%20services%3C%2Fli%3E%0A%3Cli%3EOnly%20use%20official%20links%20published%20by%20the%20respective%20entity%3C%2Fli%3E%0A%3Cli%3EDouble-check%20the%20web%20addresses%20to%20reduce%20exposure%20to%20fake%20sites%20created%20with%20domain%20names%20containing%20spelling%20errors%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs

Engine: 5.2-litre V10

Power: 640hp at 8,000rpm

Torque: 565Nm at 6,500rpm

Transmission: 7-speed dual-clutch auto

Price: From Dh1 million

On sale: Q3 or Q4 2022 

The specs

Engine: 1.5-litre, 4-cylinder turbo

Transmission: CVT

Power: 170bhp

Torque: 220Nm

Price: Dh98,900

Results

Stage three:

1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-43

2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s

3. Tom Dumoulin (NED) Jumbo-Visma, at 14s

4. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s

5. Joao Almeida (POR) UAE-Team Emirates, at 22s

6. Mikkel Bjerg (DEN) UAE-Team Emirates, at 24s

General Classification:

1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-13-02

2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s

3. Jasper Philipsen (BEL) Alpecin Fenix, at 12s

4. Tom Dumoulin (NED) Jumbo-Visma, at 14s

5. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s

6. Joao Almeida (POR) UAE-Team Emirates, at 22s

Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

Gulf rugby

Who’s won what so far in 2018/19

Western Clubs Champions League: Bahrain
Dubai Rugby Sevens: Dubai Hurricanes
West Asia Premiership: Bahrain

What’s left

UAE Conference

March 22, play-offs:
Dubai Hurricanes II v Al Ain Amblers, Jebel Ali Dragons II v Dubai Tigers

March 29, final

UAE Premiership

March 22, play-offs: 
Dubai Exiles v Jebel Ali Dragons, Abu Dhabi Harlequins v Dubai Hurricanes

March 29, final

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Envi%20Lodges%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3ESeptember%202021%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Noelle%20Homsy%20and%20Chris%20Nader%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Hospitality%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%20to%2015%0D%3Cbr%3E%3Cstrong%3EStage%20of%20investment%3A%20%3C%2Fstrong%3ESeries%20A%3C%2Fp%3E%0A
LA LIGA FIXTURES

Friday (UAE kick-off times)

Real Sociedad v Leganes (midnight)

Saturday

Alaves v Real Valladolid (4pm)

Valencia v Granada (7pm)

Eibar v Real Madrid (9.30pm)

Barcelona v Celta Vigo (midnight)

Sunday

Real Mallorca v Villarreal (3pm)

Athletic Bilbao v Levante (5pm)

Atletico Madrid v Espanyol (7pm)

Getafe v Osasuna (9.30pm)

Real Betis v Sevilla (midnight)

Business Insights
  • Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
  • The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
  • US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
UAE%20set%20for%20Scotland%20series
%3Cp%3EThe%20UAE%20will%20host%20Scotland%20for%20a%20three-match%20T20I%20series%20at%20the%20Dubai%20International%20Stadium%20next%20month.%3Cbr%3EThe%20two%20sides%20will%20start%20their%20Cricket%20World%20Cup%20League%202%20campaigns%20with%20a%20tri-series%20also%20involving%20Canada%2C%20starting%20on%20January%2029.%3Cbr%3EThat%20series%20will%20be%20followed%20by%20a%20bilateral%20T20%20series%20on%20March%2011%2C%2013%20and%2014.%3C%2Fp%3E%0A
Short-term let permits explained

Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.

Tenants also require a letter of no objection from their landlord before being allowed to list the property.

There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.

Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.

FINAL LEADERBOARD

1. Jordan Spieth (USA) 65 69 65 69 - 12-under-par
2. Matt Kuchar (USA) 65 71 66 69 - 9-under
3. Li Haotong (CHN) 69 73 69 63 - 6-under
T4. Rory McIlroy (NIR) 71 68 69 67 - 5-under
T4. Rafael Cabrera-Bello (ESP) 67 73 67 68 - 5-under
T6. Marc Leishman (AUS) 69 76 66 65 - 4-under
T6. Matthew Southgate (ENG) 72 72 67 65 - 4-under
T6. Brooks Koepka (USA) 65 72 68 71 - 4-under
T6. Branden Grace (RSA) 70 74 62 70 - 4-under
T6. Alexander Noren (SWE)  68 72 69 67 - 4-under

MATCH INFO

Day 1 at Mount Maunganui

England 241-4

Denly 74, Stokes 67 not out, De Grandhomme 2-28

New Zealand 

Yet to bat

Results:

5pm: Maiden (PA) | Dh80,000 | 1,200 metres

Winner: Jabalini, Szczepan Mazur (jockey), Younis Kalbani (trainer)

5.30pm: UAE Arabian Derby (PA) | Prestige | Dh150,000 | 2,200m

Winner: Octave, Gerald Avranche, Abdallah Al Hammadi

6pm: Arabian Triple Crown Round 3 (PA) | Group 3 Dh300,000 | 2,200m

Winner: Harrab, Richard Mullen, Mohamed Ali

6.30pm: Emirates Championship (PA) | Group 1 | Dh1million | 2,200m

Winner: BF Mughader, Szczepan Mazur, Younis Al Kalbani

7pm: Abu Dhabi Championship (TB) | Group 3 | Dh380,000 | 2,200m

Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan

7.30pm: Wathba Stallions Cup (PA) | Conditions | Dh70,000 | 1,600m

Winner: AF La’Asae, Tadhg O’Shea, Ernst Oertel

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

UAE currency: the story behind the money in your pockets
Sri Lanka-India Test series schedule
  • 1st Test India won by 304 runs at Galle
  • 2nd Test India won by innings and 53 runs at Colombo
  • 3rd Test August 12-16 at Pallekele

SPECS

Toyota land Cruiser 2020 5.7L VXR

Engine: 5.7-litre V8

Transmission: eight-speed automatic

Power: 362hp

Torque: 530Nm

Price: Dh329,000 (base model 4.0L EXR Dh215,900)