DIFX signs first Market Maker Agreement with Deutsche Bank
Deutsche Bank has agreed to provide buy and sell prices in two of the largest companies listed on the Dubai International Financial Exchange (DIFX), Gold Fields and Kingdom Hotel Investments (KHI), in a further significant step forward for the exchange.
Per E. Larsson, Chief Executive of the DIFX, said: "Deutsche Bank is the first international investment bank to sign a market making agreement with the exchange.
Market making encourages an active trading environment and is a significant feature of international exchanges.
"Investors can have confidence that they will always be able to sell or buy shares in these companies on the DIFX, the region's international exchange."
Gold Fields, a South African company that is one of the world's largest gold producers, listed on the DIFX last month. KHI, based in the Dubai International Financial Centre, listed in March 2006.
Ricardo Honegger, Chief Country Officer for UAE at Deutsche Bank said: "Deutsche Bank has been closely involved with the DIFX since before it launched in September 2005. We have already been providing liquidity in numerous listed DIFX securities. Formalising our status as a market maker is evidence of our continued commitment to and belief in the development of the DIFX."
Nasser Alshaali, Chief Operating Officer of the DIFX, said: "Our agreement with Deutsche Bank is an important step forward as we strengthen our links with international and regional banks and other financial organisations. These relationships are further improving access to the exchange for investors."