The Nasdaq Dubai exchange will open an equity futures market next month to trade single-stock futures on the shares of some of the United Arab Emirates' biggest companies, the bourse's chief executive said on Monday. "The futures market will provide opportunities to hedge or leverage on the underlying market. We saw a gap in the market and think there is good demand," Hamed Ahmed Ali said in a telephone interview. From Sept. 1, Nasdaq Dubai will initially trade futures in 10 UAE stocks (Aldar Properties, Arabtec, DAMAC Properties, DP World, Dubai Islamic Bank, Dubai Parks and Resorts, Emaar Properties, Etisalat, First Gulf Bank and Union Properties). Futures contracts will have maturities of one, two or three months and will be settled in cash. Each contract will provide exposure to 100 underlying shares, with Shuaa Capital providing market-making services. Ali said Nasdaq Dubai aimed eventually to develop futures based on UAE stock indexes as well as single-stock futures on shares of other countries in the region. (Reuters)