Nasdaq Dubai will tomorrow launch futures on the Abu Dhabi National Oil Company’s retail arm Adnoc Distribution, to enable investors to take positions on movements in the share price of the company in coming months.

Adnoc Distribution, the operator of retail fuel service stations in the UAE – except in Dubai - is scheduled to list tomorrow on Abu Dhabi Securities Exchange (ADX), following an initial public offering (IPO) that raised $851m.

The addition of Adnoc Distribution comprises the latest expansion of Nasdaq Dubai’s derivatives market, which from tomorrow will comprise single stock futures on 16 UAE-listed companies, after opening with seven in September 2016.

Dubai-based financial services firm Shuaa Capital will provide market-making services on Adnoc Distribution to facilitate liquidity, as it does on all Nasdaq Dubai single stock futures.

In October, Nasdaq Dubai announced agreements with Morgan Stanley Capital International (MSCI), Dubai Financial Market (DFM) and ADX under which the exchange will create futures on their equity indices. Launch dates will be announced soon.

The index derivatives will be a first in the region and will attract further international and regional participation in Dubai’s capital markets.