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DFM launches futures contracts on general index

DFM launches futures contracts on general index
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Dubai – Mubasher: The Dubai Financial Market (DFM) announced the listing and trading of futures contracts on its General Index (DFMGI) as of 29 May 2023 to provide investors with unique investment and hedging opportunities.

DFMGI includes the most liquid and largest companies listed on the DFM. Meanwhile, the offered futures are cash-settled contracts that track the underlying price performance of DFMGI, according to a market announcement.

The futures will further enable DFM’s retail investors to diversify their investment options while allowing existing investors to have the opportunity to access one of the best performing indices that comprise the region's leading blue-chip companies.

DFMGI futures allow investors to make gains while trading and magnify them through the use of leverage.

CEO of DFM, Hamed Ali, said: "The launch of DFMGI Future is further evidence of our commitment to diversify products and provide investors with unique investment and hedging opportunities.”

Ali added: “This is in line with our concerted efforts to bring innovative products to market to increase retail and institutional investor participation while increasing the depth and breadth of the market."

It is worth noting that DFMGI witnessed strong performance of 4.40% in 2022. This was followed by a 6.14% growth during January-May 2023.

The DFMGI tracks major sectors like financials, industrials, real estate, and utilities, as well as communication services, and transportation, among others.