Dubai - Mubasher: The Dubai Financial Market (DFM) has collaborated with 14 brokerage firms and technology and data providers as launch partners for its new equity futures platform, set to be launched on 18 October.

The new platform will enable investors and brokers to explore new investment opportunities through a new and promising trading asset class and diversify and hedge their portfolios, according to a press release on Sunday.

Ten brokerage firms have registered as equity futures members, including BH Mubasher Financial Services, Al Daman Securities, EFG HERMES (UAE), Arqaam Securities, Shuaa Securities, and Global for Shares & Bond.

Meanwhile, SK Advisory FZ (Zag Trader), First Information Technology, Global Market Access Holding (DIFC), and Horizon Software have joined the platform as technology and data providers.

The platform will initially introduce futures contracts on single stocks with tenure up to three months, including five of the most liquid equities listed on the DFM.

The CEO of DFM, Hassan Al Serkal, commented: "We are looking to cooperate with the Launch Partners as well as other brokerage firms that have shown enthusiasm to join the market as trading members in the coming period, which underlines investors’ growing demand for equity futures and other new asset classes."

It is noteworthy to mention that in late September, the DFM has announced its plans to launch an equity derivatives platform, DFM Derivatives Platform, to attract more investments, in cooperation with Dubai Clear, Nasdaq Dubai, and leading brokerage firms.