Abu Dhabi – Mubasher: The derivatives market of the Abu Dhabi Securities Exchange (ADX) has recorded AED 1 billion in traded value during the first year of its launch.

More than 1 million contracts were traded with over 100% above peers in the region, according to a press release.

The exchange launched with an initial five single stock futures, namely Etisalat which is currently known as e&, First Abu Dhabi Bank (FAB), International Holding Company (IHC), ADNOC Distribution, and Aldar Properties.

In June 2022, the ADX witnessed the launch of futures contracts on the FTSE ADX 15 (FADX 15) Index. Meanwhile in October this year, ADX added five more single stock futures which brought the total number of traded derivatives to 11.

The derivatives market allows investors and traders to have access to two-way market exposure, in addition to providing for hedging and leveraging capabilities.

Managing Director and CEO of ADX, Saeed Hamad Al Dhaheri, said: “Launching the market was a significant milestone for our young and fast-growing exchange.”

Al Dhaheri added: “We are continually working on introducing new products on our derivatives platform and expect trading to expand further in the coming months, as ADX continues to be a vibrant trading hub for both investors and issuers.”

Initiating the derivatives market is part of ADX’s strategy to develop Abu Dhabi’s capital markets and bring its products and services in line with global peers.