UAE exchange sees Al Ramz Capital conduct first short selling trade via new facility
16 October 2020 Abu Dhabi
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Al Ramz Capital, a United Arab Emirates (UAE) brokerage, has become the first firm to execute a covered short sale and stock borrow via Abu Dhabi 麻豆传媒 Exchange鈥檚 (ADX) newly-launched facility.
Earlier this week, ADX unveiled a revised and enhanced securities lending rules framework alongside a .
Yesterday, Al Ramz Capital, a subsidiary of Al Ramz PJSC, a Dubai-based investment firm that offers asset management, market making, liquidity providing, and brokerage services became the first firm to utilise the service.
Details of the trade and other counterparts are not publicly available.
Dhafer Sahmi Al-Ahbabi, chair of Al Ramz PJSC, describes the occasion as 鈥渁n important step forward in the development of regional capital markets鈥�.
鈥淲e are proud to be a part of this development and we commend ADX for achieving this milestone,鈥� he adds.
Also commenting on the first trade, H.E. Mohamed Ali Al Shorafa Al Hammadi, chairman of ADX, says he is pleased to gain buy-in for the facility from one of UAE鈥檚 "top brokerage firms".
鈥淭he launch of the covered short selling service is part of the exchange鈥檚 strategy to support the diversification of investment tools and providing investors with a broader range of hedging mechanisms,鈥� he explains.
鈥淏y doing so, it will attract a new segment of specialised and experienced investors, driving both liquidity and trading volumes.鈥�
Earlier this week, ADX unveiled a revised and enhanced securities lending rules framework alongside a .
Yesterday, Al Ramz Capital, a subsidiary of Al Ramz PJSC, a Dubai-based investment firm that offers asset management, market making, liquidity providing, and brokerage services became the first firm to utilise the service.
Details of the trade and other counterparts are not publicly available.
Dhafer Sahmi Al-Ahbabi, chair of Al Ramz PJSC, describes the occasion as 鈥渁n important step forward in the development of regional capital markets鈥�.
鈥淲e are proud to be a part of this development and we commend ADX for achieving this milestone,鈥� he adds.
Also commenting on the first trade, H.E. Mohamed Ali Al Shorafa Al Hammadi, chairman of ADX, says he is pleased to gain buy-in for the facility from one of UAE鈥檚 "top brokerage firms".
鈥淭he launch of the covered short selling service is part of the exchange鈥檚 strategy to support the diversification of investment tools and providing investors with a broader range of hedging mechanisms,鈥� he explains.
鈥淏y doing so, it will attract a new segment of specialised and experienced investors, driving both liquidity and trading volumes.鈥�
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