Liquidity Provisioning Service Expands at the Abu Dhabi Securities Exchange with Appointment of SHUAA by Bank of Sharjah
As part of the strategic roadmap set by the Abu Dhabi Securities Exchange (ADX) the leading economic market in the region, to broadening niche services to providers and according to its objectives of attracting and activating a broader series of financiers along with boosting market capitalization and product array, the Exchange hosted today representatives from both Bank of Sharjah and SHUAA Resources to officially note the start of Liquidity Stipulation solutions for Bank of Sharjah shares on the exchange by SHUAA Resources International Limited 'SHUAA'. This is the 2nd liquidity provision agreement hosted by ADX since last year.
As an authorized Liquidity Provider by the ADX, SHUAA will work towards boosting liquidity levels of the traded supply and will maintain a reasonable and orderly market based on the depth and connection criteria set by the exchange. SHUAA presently leads the UAE Market Making and Liquidity Provision scene both by volumes and by number of signed-up listed firms, in addition to carrying out the service versus money equities and futures on multiple exchanges.
Mr. Rashed Al Blooshi, Chief Executive of ADX commented, "We are witnessing growing interest in the deepness of services and products which we have presented, including Liquidity Stipulation mandates. We take this chance to invite Bank of Sharjah's timely choice for appointing one of the lead professionals in this extremely specialized field, SHUAA Capital Int'l Ltd. Key to having a strong market is the ability to equip detailed companies and prolonging them the correct facilities such as Liquidity Provisioning and Market Making, and for that you require highly experienced traders who can properly yet properly rate markets, together with the necessary IT facilities in order to provide quickly, effective pricing solutions.
Mr. Varouj Nerguizian, General Manager of Bank of Sharjah said, "We at Bank of Sharjah delight in to announce this new Liquidity Provisioning workout, meant to even more boost our shares' liquidity levels. Additionally, we always recognize our responsibility to existing and potential capitalists, and as such we will certainly always take into consideration tactical methods that would positively contribute to the bottom-line, specifically in the midst of a very unstable atmosphere. We are confident our Liquidity Provisioning is in good hands".
Mr. Fawad Tariq-Khan, President of SHUAA Resources said, "A select number of listed companies always seek ways to browse today's complex market; our established experience in Liquidity Provisioning and Market Making in UAE markets permit us to prudently provide these companies the scenarios had to build healthy liquidity degrees, and supply better rates mixed with unique market understandings. We wish to give thanks to both the Abu Dhabi Stocks Exchange and Bank of Sharjah for their vote of confidence".
Mr. Magdi Shannon, Head of Equities Trading at SHUAA said, "As Liquidity Providers and Market Manufacturers, we are constantly looking for innovative means to boost the market for investors, and delight in to bring our proficiency in the field to the ADX platform. Today, the growing variety of firms designating SHUAA is a testimony to our plan to more grow this customized service, and cements our dedication to institutional and retail investors looking for much deeper liquidity with solid execution of trades".
It is noteworthy to mention that Abu Dhabi Securities Exchange (ADX) offers integrated solutions in the areas of liquidity provision and market making. ADX also uses blockchain technology for eVoting during AGMs. The Exchange has recently launched a series of services, one of the most crucial of which is Technical Short Marketing, which makes ADX the very first market in the region to release such service to fulfill the disclosure and openness needs, and to guarantee timely and direct interaction of information to stakeholders and investors within a regulated framework to serve the needs of noted companies, shareholders, and analysts.
