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Al Ramz Capital becomes market maker for Nasdaq Dubai equities and equity futures

PUBLISHED ON 22-Feb-2017
Al Ramz Capital becomes market maker for Nasdaq Dubai equities and equity futures

  • Prominent financial service company is third market maker to join futures market

  • Futures trading has increased 1,050% since market opened

 Al Ramz Capital, one of the most active brokerages in the UAE, has become a market maker on Nasdaq Dubai for equities and equity futures, in the latest expansion of the trading infrastructure of the region’s international financial exchange.

Al Ramz Capital became a Member of Nasdaq Dubai to trade equities in 2008 and has been one of the leading trading Members on the exchange’s equity futures market since it opened on September 1, 2016.

Mohammad Al Mortada Al Dandashi, Managing Director of Al Ramz Capital, said: “Al Ramz is honored to partner with Nasdaq Dubai in pioneering advanced financial instruments. We strongly believe that such initiatives represent a major milestone towards evolving into a developed market. On one hand, market making is deemed by all means an essential function for capital markets to become efficient, more active, and more compatible with institutional requirements. On the other hand, derivatives pave the way for different investment strategies to be efficiently implemented and other products to be introduced. We at Al Ramz believe that such initiatives from Nasdaq Dubai are highly commendable, and we look forward to taking the lead in further developments.” 

Hamed Ali, Chief Executive of Nasdaq Dubai, said: “Al Ramz Capital has brought impressive financial expertise and experience to the UAE’s capital markets for many years and its market making activity on Nasdaq Dubai will benefit all participants, by facilitating further trading activity. Opportunities for market making will increase as the exchange adds more securities, including further equity listings as well as equity indices and equity options.” 

As one of the market makers on Nasdaq Dubai, Al Ramz Capital will simultaneously provide buy and sell prices in selected equities and equity futures contracts, which supports liquidity in the markets and investor interest. In equities, it is focusing on DP World initially. It is the third market maker to join the exchange’s futures market, with its activities focusing initially on DP World and Etisalat futures. It will add further securities in the near future.

Galen Moore, Head of Market Making and Liquidity at Al Ramz Capital spoke about this achievement:  "We are very pleased to add the Nasdaq Dubai Market Making Licence to our business. Not only will we have the ability to serve our clients who require greater liquidity and transparency in the trading of their underlying shares but will increase the scope of our business to include futures and options.  This shows that Al Ramz is committed to being at the forefront of the growth and development of the capital markets in the UAE and this licence demonstrates the maturity of this market.”

Al Ramz Capital LLC., a subsidiary of Al Ramz Corporation Investment & Development PJSC, provides securities trading brokerage services to institutional and individual clients. The firm offers an e-trading platform; Islamic financial services; a margin-trading platform; and a state of the art trading platform “Borsat” that provides services such as advanced charting, technical analysis, market depth information, and real-time prices. The company also provides support and assistance for the client’s financial operations; as well as institutional and individual desk and research and advisory services. Al Ramz Capital LLC was founded in 1998 and is based in Abu Dhabi.

Trading on Nasdaq Dubai’s equity futures market increased 1,050% from 15,508 contracts in its first month in September to 178,976 contracts in January. The market currently consists of single stock futures on nine UAE-listed companies: Emaar Properties, DXB Entertainments, Union Properties, Abu Dhabi Commercial Bank, Aldar Properties, Arabtec Holding, DP World, Dubai Islamic Bank, and Etisalat.

The platform provides regional and international investors with unique new tools for investment and wealth protection, including hedging, leverage, and the ability to make gains when share prices are falling as well as rising.

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