Media ININ Economy We Trust
Media IN ABU DHABI, 17th June, 2019 (WAM)
Al Ramz Capital, a subsidiary of Al-Ramz Corporation Investment and Development has been appointed as a Liquidity Provider for Ras Al Khaimah Cement Company (RAKCC) shares after obtaining the approval of Abu Dhabi Securities Exchange.
It is worthy to note that this is the third liquidity provider agreement that ADX hosts.
A Liquidity Provider is appointed by a publicly listed company to enhance the liquidity of its shares by reducing the bid/ask spread and maintaining a consistent presence on the shares. This allows sellers and buyers to find orders on the order book on a consistent basis to meet their liquidity needs.
This will in turn reduce instability and enhance shareholder value by promoting orderly markets on the trading of the shares. As a licensed active market maker on DFM, ADX and Nasdaq Dubai, Al Ramz brings over 20 years’ experience in the UAE Capital markets to offer this valuable service offering.
The Acting Chief Executive of ADX, said: “We are happy to welcome Al Ramz Capital as a liquidity provider in Abu Dhabi Securities Exchange.”
“We are confident that having Al Ramz as a liquidity provider will add quality to market transactions in the coming period. Giving Al Ramz the liquidity provision license adds to the achievements of ADX, the last one being the initiation of technical short selling service, which ADX was the first financial market in the region to launch.”
